Notable Price Action: Is Carolina Financial Corp a Buy? The Stock Reaches Record High Today

Notable Price Action: Is Carolina Financial Corp a Buy? The Stock Reaches Record High Today

The stock of Carolina Financial Corp (NASDAQ:CARO) reached all time high today, Nov, 24 and still has $28.32 target or 7.00% above today’s $26.47 share price. This indicates more upside for the $321.26 million company. This technical setup was reported by Barchart.com. If the $28.32 PT is reached, the company will be worth $22.49 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 3.40% or $0.87 on November 23, hitting $26.47. About 114,125 shares traded hands or 122.96% up from the average. Carolina Financial Corp (NASDAQ:CARO) has risen 47.55% since April 22, 2016 and is uptrending. It has outperformed by 42.14% the S&P500.

Analysts await Carolina Financial Corp (NASDAQ:CARO) to report earnings on January, 27. They expect $0.41 earnings per share, up 13.89% or $0.05 from last year’s $0.36 per share. CARO’s profit will be $4.98 million for 16.14 P/E if the $0.41 EPS becomes a reality. After $0.47 actual earnings per share 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. Raymond James initiated Carolina Financial Corp (NASDAQ:CARO) on Friday, December 18 with “Strong Buy” rating. The stock has “Buy” rating given by Sandler O’Neill on Wednesday, November 9. The stock of Carolina Financial Corp (NASDAQ:CARO) has “Equal-Weight” rating given on Friday, September 9 by Stephens. As per Thursday, April 7, the company rating was downgraded by Raymond James.

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 important 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 article titled: “Carolina Financial Corporation Completes Merger with Congaree Bancshares, Inc.”, Prnewswire.com published: “Carolina Financial Corporation Reports Results for Third Quarter of 2016” on October 19, 2016. More interesting news about Carolina Financial Corp (NASDAQ:CARO) was released by: Reuters.com and their article: “BRIEF-Carolina Financial Corporation announces agreement to acquire Greer …” with publication date: November 08, 2016.

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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