Carter Bankshares, Inc. operates as the bank holding company for Carter Bank & Trust that provides various banking products and services. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposits. The company also offers commercial loans comprising secured and unsecured loans; consumer loans, such as secured and unsecured loans for financing automobiles, home improvements, education, overdraft protection, and personal investments, as well as residential mortgages; real estate construction and acquisition loans; home equity lines of credit; and credit cards, as well as originates and holds fixed and variable rate mortgage loans. In addition, it provides other banking services that include safe deposit boxes, direct deposit of payroll and social security checks, online banking, bill pay, online account opening, mobile deposit, mobile banking, debit cards, e-statements, and ATM services; title insurance and other financial institution-related products and services; and treasury and corporate cash management services. It operates through 69 branches in Virginia and North Carolina. Carter Bankshares, Inc. was founded in 1974 and is headquartered in Martinsville, Virginia.
Wall Street Analysts Forecast Growth
Separately, Raymond James upgraded Carter Bankshares from a "market perform" rating to an "outperform" rating and set a $16.00 target price on the stock in a report on Thursday, July 7th.
Carter Bankshares Price Performance
NASDAQ:CARE opened at $16.21 on Friday. Carter Bankshares has a 1-year low of $11.50 and a 1-year high of $17.99. The firm has a 50-day moving average of $14.01 and a two-hundred day moving average of $15.39. The stock has a market cap of $398.44 million, a P/E ratio of 11.34 and a beta of 1.10.