Carolina Financial Corporation (CARO) Gets a Buy Rating from Raymond James

By Jason Carr

In a report released today, David Long from Raymond James maintained a Buy rating on Carolina Financial Corporation (NASDAQ: CARO), with a price target of $40. The company’s shares opened today at $31.26, close to its 52-week low of $28.49.

According to TipRanks.com, Long is a 2-star analyst with an average return of 0.4% and a 38.4% success rate. Long covers the Financial sector, focusing on stocks such as Union First Market Bankshares Corp, Farmers National Banc Corp Oh, and American River Bankshares.

Currently, the analyst consensus on Carolina Financial Corporation is a Moderate Buy with an average price target of $47.67, a 52.5% upside from current levels. In a report issued on October 22, Brean Capital also reiterated a Buy rating on the stock.

.

See today’s analyst top recommended stocks >>

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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.