California Public Employees Retirement System Acquires 4,800 Shares of Carolina Financial Corporation (CARO)

California Public Employees Retirement System lifted its holdings in shares of Carolina Financial Corporation (NASDAQ:CARO) by 19.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,900 shares of the financial services provider’s stock after acquiring an additional 4,800 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Carolina Financial Corporation worth $934,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CARO. Northpointe Capital LLC increased its position in shares of Carolina Financial Corporation by 62.1% during the second quarter. Northpointe Capital LLC now owns 375,215 shares of the financial services provider’s stock worth $12,127,000 after acquiring an additional 143,767 shares in the last quarter. Opus Capital Group LLC bought a new stake in shares of Carolina Financial Corporation during the second quarter worth about $4,019,000. Vanguard Group Inc. increased its position in shares of Carolina Financial Corporation by 17.4% during the second quarter. Vanguard Group Inc. now owns 523,484 shares of the financial services provider’s stock worth $16,919,000 after acquiring an additional 77,678 shares in the last quarter. Bank of America Corp DE increased its position in shares of Carolina Financial Corporation by 253.2% during the first quarter. Bank of America Corp DE now owns 85,722 shares of the financial services provider’s stock worth $2,572,000 after acquiring an additional 61,453 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Carolina Financial Corporation by 79.1% during the first quarter. Dimensional Fund Advisors LP now owns 109,434 shares of the financial services provider’s stock worth $3,283,000 after acquiring an additional 48,319 shares in the last quarter. 33.23% of the stock is owned by institutional investors.

In other Carolina Financial Corporation 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 value of $110,280.00. Following the completion of the sale, the director now directly owns 119,086 shares of the company’s stock, valued at approximately $4,377,601.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.23% of the company’s stock.

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Several equities research analysts have recently commented on CARO shares. Zacks Investment Research raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Wednesday, November 1st. Brean Capital reaffirmed a “buy” rating on shares of Carolina Financial Corporation in a research report on Monday, October 30th. BidaskClub raised shares of Carolina Financial Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Stephens reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Carolina Financial Corporation in a research report on Monday, July 24th. Finally, Raymond James Financial, Inc. reaffirmed an “outperform” rating and issued a $42.00 price objective (up from $40.00) on shares of Carolina Financial Corporation in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Carolina Financial Corporation currently has a consensus rating of “Buy” and an average target price of $39.00.

Shares of Carolina Financial Corporation (NASDAQ:CARO) opened at $36.21 on Tuesday. Carolina Financial Corporation has a 52-week low of $19.01 and a 52-week high of $40.20. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $751.65, a PE ratio of 18.49 and a beta of 0.45.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Thursday, December 14th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.55%. This is an increase from Carolina Financial Corporation’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, December 13th. Carolina Financial Corporation’s dividend payout ratio is presently 8.74%.

Carolina Financial Corporation Profile

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

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