Goldman Sachs Group Inc. acquired a new position in Carolina Financial Corporation (NASDAQ:CARO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,436 shares of the financial services provider’s stock, valued at approximately $273,000. Goldman Sachs Group Inc. owned about 0.05% of Carolina Financial Corporation as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Advisor Group Inc. grew its stake in shares of Carolina Financial Corporation by 826.4% in the second quarter. Advisor Group Inc. now owns 3,159 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 2,818 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Carolina Financial Corporation by 19.1% in the second quarter. Legal & General Group Plc now owns 3,786 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 607 shares during the last quarter. American International Group Inc. lifted its holdings in Carolina Financial Corporation by 8.7% in the first quarter. American International Group Inc. now owns 6,399 shares of the financial services provider’s stock valued at $192,000 after buying an additional 512 shares during the period. Chicago Equity Partners LLC acquired a new position in Carolina Financial Corporation in the second quarter valued at $235,000. Finally, Nationwide Fund Advisors lifted its holdings in Carolina Financial Corporation by 16.4% in the second quarter. Nationwide Fund Advisors now owns 7,827 shares of the financial services provider’s stock valued at $253,000 after buying an additional 1,104 shares during the period. 33.23% of the stock is currently owned by institutional investors.
Carolina Financial Corporation (CARO) opened at $37.35 on Friday. The stock has a market cap of $786.59, a price-to-earnings ratio of 19.35 and a beta of 0.45. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.19. Carolina Financial Corporation has a fifty-two week low of $25.28 and a fifty-two week high of $39.60.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Thursday, December 14th will be issued a $0.05 dividend. This is a positive change from Carolina Financial Corporation’s previous quarterly dividend of $0.04. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $0.20 annualized dividend and a yield of 0.54%. Carolina Financial Corporation’s payout ratio is presently 8.74%.
Several research firms recently issued reports on CARO. Raymond James Financial, Inc. restated an “outperform” rating and issued a $42.00 target price (up previously from $40.00) on shares of Carolina Financial Corporation in a report on Tuesday, October 31st. Brean Capital restated a “buy” rating on shares of Carolina Financial Corporation in a report on Monday, October 30th. Zacks Investment Research lowered shares of Carolina Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Stephens restated a “hold” rating and issued a $34.00 target price on shares of Carolina Financial Corporation in a report on Monday, July 24th. Finally, BidaskClub upgraded shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Carolina Financial Corporation has a consensus rating of “Buy” and an average price target of $39.00.
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In other news, Director Robert M. Moise sold 3,000 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were sold at an average price of $36.76, for a total transaction of $110,280.00. Following the transaction, the director now owns 119,086 shares in the company, valued at $4,377,601.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 12.23% of the stock is owned by insiders.
About Carolina Financial Corporation
Carolina Financial Corporation is a bank holding company. The Company operates through CresCom Bank (the Bank), a state-chartered commercial bank. The Company operates through three segments: community banking, wholesale mortgage banking (mortgage banking) and other. The Company’s community banking segment provides traditional banking services offered through CresCom Bank.
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