Brean Capital Reaffirms “Buy” Rating for Carolina Financial (CARO)

Share on StockTwits

Brean Capital restated their buy rating on shares of Carolina Financial (NASDAQ:CARO) in a research note released on Sunday morning. They currently have a $41.00 target price on the financial services provider’s stock.

A number of other equities analysts also recently issued reports on the stock. BidaskClub downgraded shares of Carolina Financial from a hold rating to a sell rating in a report on Thursday, September 13th. Zacks Investment Research downgraded shares of Carolina Financial from a hold rating to a sell rating in a report on Friday, October 5th. Keefe, Bruyette & Woods downgraded shares of Carolina Financial from an outperform rating to a market perform rating and set a $19.00 price objective on the stock. in a report on Monday, July 9th. ValuEngine downgraded shares of Carolina Financial from a buy rating to a hold rating in a report on Thursday, August 2nd. Finally, Raymond James dropped their price objective on shares of Carolina Financial from $45.00 to $40.00 and set a buy rating on the stock in a report on Friday, October 26th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $38.50.

Shares of CARO stock opened at $33.09 on Friday. Carolina Financial has a 52 week low of $28.49 and a 52 week high of $45.58. The company has a market capitalization of $716.78 million, a PE ratio of 16.22 and a beta of 0.57. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.81.

Carolina Financial (NASDAQ:CARO) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Carolina Financial had a net margin of 21.18% and a return on equity of 11.38%. The firm had revenue of $44.18 million during the quarter, compared to analyst estimates of $44.62 million. Equities research analysts anticipate that Carolina Financial will post 2.79 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Thursday, December 13th. Carolina Financial’s dividend payout ratio is currently 13.73%.

A number of large investors have recently modified their holdings of CARO. Wells Fargo & Company MN boosted its holdings in Carolina Financial by 17.9% during the first quarter. Wells Fargo & Company MN now owns 33,265 shares of the financial services provider’s stock worth $1,307,000 after purchasing an additional 5,040 shares during the last quarter. Northern Trust Corp boosted its stake in Carolina Financial by 0.6% in the first quarter. Northern Trust Corp now owns 206,322 shares of the financial services provider’s stock valued at $8,105,000 after acquiring an additional 1,301 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Carolina Financial by 99.0% in the first quarter. JPMorgan Chase & Co. now owns 8,131 shares of the financial services provider’s stock valued at $320,000 after acquiring an additional 4,046 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Carolina Financial by 19.8% in the first quarter. Dimensional Fund Advisors LP now owns 512,582 shares of the financial services provider’s stock valued at $20,134,000 after acquiring an additional 84,619 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Carolina Financial by 12.1% in the first quarter. Russell Investments Group Ltd. now owns 18,005 shares of the financial services provider’s stock valued at $707,000 after acquiring an additional 1,941 shares during the last quarter. 54.26% of the stock is currently owned by institutional investors and hedge funds.

Carolina Financial Company Profile

Carolina Financial Corporation operates as a holding company for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company operates through three segments: Community Banking, Wholesale Mortgage Banking, and Other. It offers checking accounts, commercial accounts, savings accounts, money market accounts, retirement accounts, longer-term certificates of deposit, noninterest-bearing demand accounts, and interest-bearing demand accounts to individuals, businesses, associations, organizations, and governmental authorities.

Recommended Story: How are Outstanding Shares Different from Authorized Shares?

Analyst Recommendations for Carolina Financial (NASDAQ:CARO)

Receive News & Ratings for Carolina Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carolina Financial and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply