Notable Price Action: Carolina Financial Corp Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Notable Price Action: Carolina Financial Corp Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of Carolina Financial Corp (NASDAQ:CARO) hit a new 52-week high and has $28.25 target or 9.00% above today’s $25.92 share price. The 8 months bullish chart indicates low risk for the $325.28 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $28.25 price target is reached, the company will be worth $29.28M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 81,388 shares traded hands or 59.00% up from the average. Carolina Financial Corp (NASDAQ:CARO) has risen 42.62% since April 21, 2016 and is uptrending. It has outperformed by 37.29% the S&P500.

Analysts await Carolina Financial Corp (NASDAQ:CARO) to report earnings on January, 27. They expect $0.41 EPS, up 13.89% or $0.05 from last year’s $0.36 per share. CARO’s profit will be $5.15M for 15.80 P/E if the $0.41 EPS becomes a reality. After $0.47 actual EPS reported by Carolina Financial Corp for the previous quarter, Wall Street now forecasts -12.77% negative EPS growth.

Carolina Financial Corp (NASDAQ:CARO) Ratings Coverage

Out of 5 analysts covering Carolina Financial Corporation (NASDAQ:CARO), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. Carolina Financial Corporation has been the topic of 7 analyst reports since July 21, 2015 according to StockzIntelligence Inc. Stephens initiated the stock with “Equal-Weight” rating in Friday, September 9 report. On Friday, December 18 the stock rating was initiated by Raymond James with “Strong Buy”. On Thursday, April 7 the stock rating was downgraded by Raymond James to “Outperform”. The stock of Carolina Financial Corp (NASDAQ:CARO) has “Buy” rating given on Wednesday, November 9 by Sandler O’Neill.

According to Zacks Investment Research, “Carolina Financial Corporation is the holding company of CresCom Bank. It operates through three reportable segments: Community Banking, Wholesale Mortgage Banking, and other. Its deposit products include checking accounts, commercial accounts, savings accounts, retirement accounts, and other time deposits. The company’s loan portfolio comprises loans to small and medium-sized businesses, residential and commercial construction and development loans, commercial real estate loans, residential mortgage loans, residential lot loans, home equity loans, and consumer loans. The company also offers mortgage banking services comprising correspondent lending and loan servicing; and cash management services. Carolina Financial Corporation is based in Charleston, South Carolina.”

More recent Carolina Financial Corp (NASDAQ:CARO) news were published by: Prnewswire.com which released: “Carolina Financial Corporation Announces Agreement to Acquire Greer Bancshares …” on November 08, 2016. Also Prnewswire.com published the news titled: “Carolina Financial Corporation Completes Merger with Congaree Bancshares, Inc.” on June 13, 2016. Prnewswire.com‘s news article titled: “Carolina Financial Corporation Reports Results for Third Quarter of 2016” with publication date: October 19, 2016 was also an interesting one.

CARO Company Profile

Carolina Financial Corporation, incorporated on February 14, 1996, is a bank holding company. The Firm operates through CresCom Bank, a South Carolina state-chartered bank (the Bank). The Firm operates through three divisions: community banking, wholesale mortgage banking (mortgage banking) and other. The Company’s community banking segment provides traditional banking services offered through CresCom Bank. The Company’s mortgage banking segment provides wholesale mortgage loan origination and servicing offered through Crescent Mortgage Company. The Company’s other segment provides managerial and operational support to the other business divisions through Carolina Services and Carolina Financial. CresCom Bank provides a range of commercial and retail banking financial services to meet the financial needs of its clients through its branch network in South Carolina and North Carolina.

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