Shares of Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) have been given a consensus rating of "Hold" by the five research firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $30.75.
A number of brokerages have commented on CARE. Weiss Ratings restated a "buy (b)" rating on shares of Carter Bankshares in a research report on Wednesday, November 4th. Hovde Group reaffirmed a "market perform" rating and issued a $34.50 target price (up from $30.00) on shares of Carter Bankshares in a report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of Carter Bankshares from a "hold" rating to a "sell" rating in a report on Saturday.
Get Our Latest Report on CARE
Carter Bankshares Price Performance
Shares of NASDAQ CARE opened at $29.39 on Tuesday. The stock has a fifty day moving average price of $30.35 and a 200 day moving average price of $27.68. Carter Bankshares has a 1-year low of $16.86 and a 1-year high of $36.06. The company has a market cap of $651.28 million, a PE ratio of 4.96 and a beta of 0.60.
Carter Bankshares (NASDAQ:CARE - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.19). The firm had revenue of $46.22 million during the quarter, compared to analysts' expectations of $47.19 million. Carter Bankshares had a net margin of 37.19% and a return on equity of 7.55%. Analysts anticipate that Carter Bankshares will post 1.80 earnings per share for the current fiscal year.
Carter Bankshares Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, November 23rd. Investors of record on Monday, November 9th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th. Carter Bankshares's dividend payout ratio is currently 6.76%.
Institutional Investors Weigh In On Carter Bankshares
Institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in Carter Bankshares by 159.1% in the 2nd quarter. Allworth Financial LP now owns 1,140 shares of the company's stock valued at $39,000 after purchasing an additional 700 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Carter Bankshares by 397.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,311 shares of the company's stock valued at $54,000 after purchasing an additional 1,846 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Carter Bankshares by 7.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 27,827 shares of the company's stock worth $845,000 after purchasing an additional 1,897 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Carter Bankshares during the 2nd quarter worth about $270,000. Finally, Empowered Funds LLC boosted its stake in shares of Carter Bankshares by 10.0% during the 1st quarter. Empowered Funds LLC now owns 90,470 shares of the company's stock worth $2,110,000 after purchasing an additional 8,192 shares during the last quarter. Hedge funds and other institutional investors own 41.48% of the company's stock.
About Carter Bankshares
(
Get Free Report)
Carter Bankshares, Inc is the bank holding company for Carter Bank & Trust, a community-focused financial institution headquartered in Martinsville, Virginia. The bank provides banking and financial services to individuals, businesses and organizations through its branch network and digital banking channels.
Carter Bank & Trust offers deposit products, residential and commercial real estate lending, consumer loans, business loans, treasury management and other financial services.
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