Squarepoint Ops LLC Buys Shares of 9,350 Carolina Financial Corp (CARO)

Squarepoint Ops LLC bought a new position in Carolina Financial Corp (NASDAQ:CARO) in the 4th quarter, HoldingsChannel reports. The firm bought 9,350 shares of the financial services provider’s stock, valued at approximately $277,000.

Several other hedge funds have also recently modified their holdings of the business. Teton Advisors Inc. lifted its holdings in shares of Carolina Financial by 10.7% in the 4th quarter. Teton Advisors Inc. now owns 8,303 shares of the financial services provider’s stock worth $246,000 after buying an additional 803 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Carolina Financial by 37.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,009 shares of the financial services provider’s stock worth $89,000 after buying an additional 819 shares during the period. Advisor Group Inc. lifted its holdings in shares of Carolina Financial by 34.3% in the 4th quarter. Advisor Group Inc. now owns 3,765 shares of the financial services provider’s stock worth $111,000 after buying an additional 961 shares during the period. Campbell Newman Asset Management Inc. lifted its holdings in shares of Carolina Financial by 13.1% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 12,441 shares of the financial services provider’s stock worth $368,000 after buying an additional 1,439 shares during the period. Finally, Quantamental Technologies LLC purchased a new stake in shares of Carolina Financial in the 4th quarter worth $47,000. Institutional investors and hedge funds own 55.29% of the company’s stock.

In other news, Director Robert M. Moise sold 5,500 shares of the business’s stock in a transaction on Wednesday, January 30th. The stock was sold at an average price of $32.92, for a total value of $181,060.00. Following the completion of the transaction, the director now directly owns 98,743 shares of the company’s stock, valued at approximately $3,250,619.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President M. J. Huggins III sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $35.87, for a total value of $179,350.00. Following the completion of the transaction, the president now directly owns 61,711 shares of the company’s stock, valued at $2,213,573.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,500 shares of company stock valued at $1,050,410. Corporate insiders own 6.89% of the company’s stock.

Several equities research analysts have weighed in on CARO shares. Stephens reiterated a “hold” rating and issued a $32.00 target price on shares of Carolina Financial in a report on Wednesday, December 19th. Zacks Investment Research cut Carolina Financial from a “hold” rating to a “sell” rating in a report on Tuesday, December 25th. Brean Capital reiterated a “buy” rating on shares of Carolina Financial in a report on Monday, January 14th. ValuEngine upgraded Carolina Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Finally, BidaskClub upgraded Carolina Financial from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Carolina Financial currently has a consensus rating of “Hold” and an average price target of $33.60.

CARO opened at $36.45 on Wednesday. The firm has a market capitalization of $801.40 million, a PE ratio of 12.74 and a beta of 1.00. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.83 and a quick ratio of 0.82. Carolina Financial Corp has a 12 month low of $27.62 and a 12 month high of $45.58.

Carolina Financial (NASDAQ:CARO) last released its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.07. The firm had revenue of $43.41 million during the quarter, compared to analyst estimates of $45.07 million. Carolina Financial had a return on equity of 11.60% and a net margin of 24.72%. Research analysts expect that Carolina Financial Corp will post 2.9 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.88%. This is a positive change from Carolina Financial’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, March 14th. Carolina Financial’s payout ratio is presently 11.19%.

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Carolina Financial Company Profile

Carolina Financial Corporation operates as a holding company for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company operates through three segments: Community Banking, Wholesale Mortgage Banking, and Other. It offers noninterest-bearing demand accounts, interest-bearing demand and savings accounts, money market accounts, time deposits, and certificates of deposit.

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Want to see what other hedge funds are holding CARO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carolina Financial Corp (NASDAQ:CARO).

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

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