Emerald Mutual Fund Advisers Trust Has $2,424,000 Stake in Carolina Financial Corporation (NASDAQ:CARO)

Emerald Mutual Fund Advisers Trust continued to hold its stake in Carolina Financial Corporation (NASDAQ:CARO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,000 shares of the financial services provider’s stock at the end of the second quarter. Emerald Mutual Fund Advisers Trust owned approximately 0.47% of Carolina Financial Corporation worth $2,424,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CARO. Russell Investments Group Ltd. acquired a new stake in Carolina Financial Corporation during the fourth quarter worth about $197,000. State Street Corp boosted its position in shares of Carolina Financial Corporation by 17.5% in the fourth quarter. State Street Corp now owns 143,020 shares of the financial services provider’s stock valued at $4,403,000 after buying an additional 21,307 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Carolina Financial Corporation by 172.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 61,115 shares of the financial services provider’s stock valued at $1,882,000 after buying an additional 38,684 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Carolina Financial Corporation during the fourth quarter valued at $4,609,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Carolina Financial Corporation during the fourth quarter valued at $227,000. 39.62% of the stock is owned by institutional investors and hedge funds.

Carolina Financial Corporation (NASDAQ:CARO) opened at 32.71 on Friday. Carolina Financial Corporation has a 1-year low of $20.11 and a 1-year high of $34.84. The company has a 50 day moving average of $33.24 and a 200 day moving average of $31.16. The company has a market capitalization of $525.16 million, a PE ratio of 18.00 and a beta of 0.45.

Carolina Financial Corporation (NASDAQ:CARO) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.09. The business had revenue of $27.90 million during the quarter, compared to analysts’ expectations of $27.97 million. Carolina Financial Corporation had a return on equity of 12.13% and a net margin of 24.19%. On average, analysts predict that Carolina Financial Corporation will post $2.00 earnings per share for the current fiscal year.

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

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CARO has been the subject of several research reports. Zacks Investment Research cut shares of Carolina Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. BidaskClub raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. UBS AG raised shares of Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. Raymond James Financial, Inc. raised shares of Carolina Financial Corporation from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $33.00 to $38.00 in a research note on Tuesday, June 13th. Finally, Stephens reissued a “hold” rating and issued a $34.00 target price on shares of Carolina Financial Corporation in a research note on Monday, July 24th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.00.

In other news, Director W. Scott Brandon sold 6,557 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $33.98, for a total value of $222,806.86. Following the completion of the transaction, the director now owns 91,352 shares in the company, valued at $3,104,140.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffery L. Deal sold 10,000 shares of the business’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 completion of the transaction, the director now owns 60,101 shares of the company’s stock, valued at approximately $2,015,186.53. 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 quarter. 12.23% of the stock is owned by company 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.

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

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