Carolina Financial Corporation (NASDAQ:CARO) Position Increased by American International Group Inc.

American International Group Inc. boosted its position in Carolina Financial Corporation (NASDAQ:CARO) by 8.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 6,399 shares of the financial services provider’s stock after buying an additional 512 shares during the period. American International Group Inc.’s holdings in Carolina Financial Corporation were worth $192,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Carolina Financial Corporation by 18.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 40,842 shares of the financial services provider’s stock worth $1,225,000 after buying an additional 6,256 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Carolina Financial Corporation by 41.5% in the first quarter. Bank of New York Mellon Corp now owns 44,907 shares of the financial services provider’s stock worth $1,347,000 after buying an additional 13,179 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Carolina Financial Corporation by 10.4% in the first quarter. First Trust Advisors LP now owns 36,423 shares of the financial services provider’s stock worth $1,093,000 after buying an additional 3,428 shares during the last quarter. Monarch Partners Asset Management LLC bought a new position in shares of Carolina Financial Corporation during the first quarter worth about $444,000. Finally, Wells Fargo & Company MN raised its position in shares of Carolina Financial Corporation by 22.2% in the first quarter. Wells Fargo & Company MN now owns 47,623 shares of the financial services provider’s stock worth $1,428,000 after buying an additional 8,650 shares during the period. Institutional investors and hedge funds own 39.62% of the company’s stock.

Shares of Carolina Financial Corporation (NASDAQ:CARO) opened at 32.71 on Friday. Carolina Financial Corporation has a one year low of $20.11 and a one year high of $34.84. The company has a market cap of $525.16 million, a price-to-earnings ratio of 18.00 and a beta of 0.45. The firm has a 50-day moving average of $33.24 and a 200 day moving average of $31.16.

Carolina Financial Corporation (NASDAQ:CARO) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.09. Carolina Financial Corporation had a return on equity of 12.13% and a net margin of 24.19%. The company had revenue of $27.90 million during the quarter, compared to the consensus estimate of $27.97 million. Equities research analysts anticipate that Carolina Financial Corporation will post $2.00 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Thursday, September 14th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Wednesday, September 13th. Carolina Financial Corporation’s dividend payout ratio is currently 8.84%.

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CARO has been the topic of a number of research reports. Zacks Investment Research lowered shares of Carolina Financial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd. Raymond James Financial, Inc. raised shares of Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $33.00 to $38.00 in a research report on Tuesday, June 13th. BidaskClub raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stephens reaffirmed a “hold” rating and set a $34.00 target price on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $38.00 target price on shares of Carolina Financial Corporation in a research report on Friday, July 7th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Carolina Financial Corporation presently has a consensus rating of “Buy” and a consensus target price of $36.00.

In related news, Director Jeffery L. Deal sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $33.53, for a total value of $335,300.00. Following the transaction, the director now owns 60,101 shares in the company, valued at $2,015,186.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael P. Leddy sold 20,000 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $33.00, for a total value of $660,000.00. Following the completion of the transaction, the director now owns 79,465 shares in the company, valued at approximately $2,622,345. The disclosure for this sale can be found here. Insiders have sold 36,557 shares of company stock valued at $1,218,107 in the last three months. Insiders own 12.23% of the company’s stock.

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.

Institutional Ownership by Quarter for Carolina Financial Corporation (NASDAQ:CARO)

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