Could Carolina Financial Corporation (CARO) See a Reversal After Having Formed Several Months Double Top Pattern

May 17, 2018 - By Hannah Black

Carolina Financial Corporation (NASDAQ:CARO) Logo

The chart of Carolina Financial Corporation (CARO) shows a double top with $44.50 target or 7.00 % above today’s $41.59 share price. The 8 months chart pattern indicates low risk for the $870.03M company. It was reported on May, 17 by Finviz.com. If the $44.50 price target is reached, the company will be worth $60.90 million more. Double tops are rare but powerful chart patterns.

The stock increased 1.83% or $0.75 during the last trading session, reaching $41.59. About 29,044 shares traded. Carolina Financial Corporation (NASDAQ:CARO) has risen 32.43% since May 17, 2017 and is uptrending. It has outperformed by 20.88% the S&P500.

Analysts await Carolina Financial Corporation (NASDAQ:CARO) to report earnings on July, 19. They expect $0.75 EPS, up 33.93 % or $0.19 from last year’s $0.56 per share. CARO’s profit will be $15.69M for 13.86 P/E if the $0.75 EPS becomes a reality. After $0.71 actual EPS reported by Carolina Financial Corporation for the previous quarter, Wall Street now forecasts 5.63 % EPS growth.

Carolina Financial Corporation (NASDAQ:CARO) Ratings Coverage

Among 4 analysts covering Carolina Financial Corporation (NASDAQ:CARO), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Carolina Financial Corporation had 13 analyst reports since December 1, 2017 according to SRatingsIntel. The company was maintained on Friday, May 11 by Brean Capital. Brean Capital maintained Carolina Financial Corporation (NASDAQ:CARO) on Thursday, April 5 with “Buy” rating. The rating was maintained by Keefe Bruyette & Woods with “Buy” on Friday, January 26. The stock of Carolina Financial Corporation (NASDAQ:CARO) has “Buy” rating given on Monday, February 5 by Brean Capital. The firm earned “Buy” rating on Monday, April 16 by Brean Capital. The firm earned “Buy” rating on Monday, April 23 by Brean Capital. The stock of Carolina Financial Corporation (NASDAQ:CARO) earned “Buy” rating by Brean Capital on Friday, December 1. On Thursday, January 25 the stock rating was maintained by Stephens with “Hold”. Keefe Bruyette & Woods maintained the shares of CARO in report on Thursday, December 21 with “Buy” rating. The stock of Carolina Financial Corporation (NASDAQ:CARO) earned “Buy” rating by Brean Capital on Friday, February 2.

Another recent and important Carolina Financial Corporation (NASDAQ:CARO) news was published by Globenewswire.com which published an article titled: “Carolina Financial Corporation Reports Results for First Quarter of 2018” on April 30, 2018.

Carolina Financial Corporation operates as a bank holding firm for CresCom Bank that provides a range of commercial and retail banking financial services in South Carolina and North Carolina. The company has market cap of $870.03 million. The firm operates in Community Banking and Wholesale Mortgage Banking divisions. It has a 24.04 P/E ratio. It offers checking accounts, commercial accounts, savings accounts, money market accounts, retirement accounts, longer-term certificates of deposit, noninterest-bearing demand accounts, and interest-bearing demand accounts to individuals, businesses, associations, organizations, and governmental authorities.

Carolina Financial Corporation (NASDAQ:CARO) Ratings Chart

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