Carter Bankshares (CARE) Stock Forecast, Price & News

3 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Carter Bankshares in the last year. There are currently 2 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" CARE shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in CARE, but not buy additional shares or sell existing shares.
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3 brokers have issued 12 month price targets for Carter Bankshares' stock. Their CARE share price forecasts range from $17.00 to $19.00. On average, they predict the company's stock price to reach $18.17 in the next year. This suggests a possible upside of 12.7% from the stock's current price.
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Carter Bankshares' stock was trading at $16.59 at the beginning of the year. Since then, CARE shares have decreased by 2.8% and is now trading at $16.12.
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Carter Bankshares saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 186,000 shares, an increase of 7.3% from the April 30th total of 173,400 shares. Based on an average daily volume of 58,600 shares, the short-interest ratio is presently 3.2 days. Currently, 0.8% of the company's stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
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Carter Bankshares, Inc. (NASDAQ:CARE) posted its quarterly earnings results on Sunday, October, 31st. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.14. The company had revenue of $36.32 million for the quarter, compared to analyst estimates of $33.43 million. Carter Bankshares had a trailing twelve-month return on equity of 16.79% and a net margin of 28.29%.

ETFs with the largest weight of Carter Bankshares (NASDAQ:CARE) stock in their portfolio include First Trust Dow Jones Select Microcap Index Fund (FDM), AdvisorShares Dorsey Wright Micro-Cap ETF (DWMC), Invesco DWA SmallCap Momentum ETF (DWAS), First Trust NASDAQ ABA Community Bank Index Fund (QABA),

Based on aggregate information from My MarketBeat watchlists, some companies that other Carter Bankshares investors own include Advanced Micro Devices (AMD), Target (TGT), AbbVie (ABBV), Alibaba Group (BABA), Best Buy (BBY), Carnival Co. & (CCL), Las Vegas Sands (LVS), NVIDIA (NVDA), Pfizer (PFE) and Peloton Interactive (PTON).

Carter Bankshares trades on the NASDAQ under the ticker symbol "CARE."

Carter Bankshares' stock is owned by a variety of retail and institutional investors. Top institutional investors include BlackRock Inc. (6.86%), State Street Corp (1.98%), Dimensional Fund Advisors LP (1.91%), Geode Capital Management LLC (1.88%), Huber Capital Management LLC (1.84%) and Petiole USA ltd (1.74%). Insiders that own company stock include Arthur Loran Adams, Bradford N Langs, Catharine L Midkiff, Curtis E Stephens, Dyke Litz H Van, Elizabeth L Walsh, Gregory W Feldmann, James W Haskins, Jane Ann Davis, Kevin S Bloomfield, Matthew M Speare, Michael R Bird, Phyllis Q Karavatakis, Robert M Bolton and Wendy S Bell.
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Shares of CARE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CARE stock can currently be purchased for approximately $16.12.

Carter Bankshares (NASDAQ:CARE) has a market capitalization of $385.91 million and generates $181.90 million in revenue each year. The company earns $49.82 million in net income (profit) each year or $2.35 on an earnings per share basis.

The company employs 731 workers across the globe.

Carter Bankshares' mailing address is 1300 Kings Mountain Road, Martinsville VA, 24112. The official website for the company is www.carterbankandtrust.com. The company can be reached via phone at (276) 656-1776 or via email at wendy.bell@carterbankandtrust.com.