Renaissance Technologies LLC Has $5.73 Million Position in Carolina Financial Corporation (CARO)

Renaissance Technologies LLC increased its position in shares of Carolina Financial Corporation (NASDAQ:CARO) by 27.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 191,100 shares of the financial services provider’s stock after buying an additional 41,400 shares during the period. Renaissance Technologies LLC owned approximately 1.18% of Carolina Financial Corporation worth $5,733,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new stake in shares of Carolina Financial Corporation during the fourth quarter valued at about $197,000. State Street Corp raised 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 worth $4,403,000 after buying an additional 21,307 shares during the period. Dimensional Fund Advisors LP raised 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 worth $1,882,000 after buying an additional 38,684 shares during the period. Highbridge Capital Management LLC purchased a new position in shares of Carolina Financial Corporation during the fourth quarter worth about $227,000. Finally, Nationwide Fund Advisors raised its position in shares of Carolina Financial Corporation by 4.4% in the first quarter. Nationwide Fund Advisors now owns 6,723 shares of the financial services provider’s stock worth $202,000 after buying an additional 286 shares during the period. Institutional investors and hedge funds own 39.62% of the company’s stock.

Carolina Financial Corporation (CARO) traded up 1.39% during trading on Friday, hitting $32.71. 49,814 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $33.24 and its 200 day moving average price is $31.16. The stock has a market cap of $525.16 million, a P/E ratio of 18.00 and a beta of 0.45. Carolina Financial Corporation has a 12-month low of $20.11 and a 12-month high of $34.84.

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 Thomson Reuters’ consensus estimate of $0.47 by $0.09. Carolina Financial Corporation had a net margin of 24.19% and a return on equity of 12.13%. The business had revenue of $27.90 million for the quarter, compared to analyst estimates of $27.97 million. Analysts anticipate that Carolina Financial Corporation will post $2.00 earnings per share for the current fiscal 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 $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Wednesday, September 13th. Carolina Financial Corporation’s payout ratio is 8.84%.

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A number of equities analysts have weighed in on CARO shares. Zacks Investment Research lowered Carolina Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 22nd. Raymond James Financial, Inc. upgraded 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 report on Tuesday, June 13th. BidaskClub upgraded Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stephens reiterated a “hold” rating and issued a $34.00 price objective on shares of Carolina Financial Corporation in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $38.00 target price on shares of Carolina Financial Corporation in a report on Friday, July 7th. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Carolina Financial Corporation has a consensus rating of “Buy” and a consensus price target of $36.00.

In other Carolina Financial Corporation news, Director Jeffery L. Deal sold 10,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $33.53, for a total transaction of $335,300.00. Following the sale, the director now owns 60,101 shares of the company’s stock, valued at approximately $2,015,186.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director W. Scott Brandon sold 6,557 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $33.98, for a total transaction of $222,806.86. Following the sale, the director now directly owns 91,352 shares in the company, valued at approximately $3,104,140.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,557 shares of company stock worth $1,218,107. 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.

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

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