Brean Capital Sticks to Its Buy Rating for Carolina Financial Corporation (CARO)

By Austin Angelo

In a report released today, Blair Brantley from Brean Capital reiterated a Buy rating on Carolina Financial Corporation (NASDAQ: CARO). The company’s shares opened today at $33.26.

According to TipRanks.com, Brantley is a 1-star analyst with an average return of -2.6% and a 35.0% success rate. Brantley covers the Financial sector, focusing on stocks such as Union First Market Bankshares Corp, Patriot National Bancorp Inc, and Community Bankers Trust Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Carolina Financial Corporation with a $41.67 average price target, representing a 25.3% upside. In a report issued on October 26, Raymond James also maintained a Buy rating on the stock with a $40 price target.

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Based on Carolina Financial Corporation’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $15.2 million. In comparison, last year the company had a net profit of $7.99 million.

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Carolina Financial Corp. is a holding company, which engages in the provision of commercial banking services to individuals and small to medium-sized businesses. It operates through the following segments: Community Banking, Wholesale Mortgage Banking, and Other. The Community Banking segment offers traditional banking services.