Carolina Financial Corporation was a big mover last session, as the company saw its shares rise almost 6% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $29.80 to $32.45 in the past one-month time frame.

The upmove followed the company’s agreement to acquire First South Bancorp, which will expand Carolina Financial’s presence in North Carolina.

 The company has not seen any estimate revisions over the past few weeks, while the Zacks Consensus Estimate for the current quarter remained unchanged. The recent price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

Carolina Financial currently has a Zacks Rank #2 (Buy) while its Earnings ESP is 0.00%.  

Another stock worth considering in the Banks - Southeast industry is Synovus Financial Corp. (SNV) which carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is CARO going up? Or down? Predict to see what others think: Up or Down

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