DA Davidson Begins Coverage on Carter Bank and Trust (NASDAQ:CARE)

DA Davidson began coverage on shares of Carter Bank and Trust (NASDAQ:CARE) in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $22.00 price objective on the stock.

Separately, FIG Partners initiated coverage on Carter Bank and Trust in a report on Monday, April 15th. They set a market perform rating and a $21.00 target price on the stock.

Shares of NASDAQ:CARE opened at $19.80 on Wednesday. Carter Bank and Trust has a one year low of $14.45 and a one year high of $21.14. The company’s 50-day moving average is $19.76.

Carter Bank and Trust (NASDAQ:CARE) last announced its earnings results on Thursday, April 25th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.10 by $0.19. The company had revenue of $31.70 million for the quarter, compared to analysts’ expectations of $34.03 million. As a group, research analysts predict that Carter Bank and Trust will post 1.13 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of CARE. Seidman Lawrence B purchased a new position in Carter Bank and Trust in the 1st quarter worth about $5,485,000. Salzhauer Michael purchased a new position in Carter Bank and Trust in the 1st quarter worth about $514,000. Permanens Capital L.P. purchased a new position in Carter Bank and Trust in the 1st quarter worth about $950,000. Banc Funds Co. LLC purchased a new position in Carter Bank and Trust in the 1st quarter worth about $1,274,000. Finally, ELCO Management Co. LLC purchased a new position in Carter Bank and Trust in the 1st quarter worth about $399,000. Institutional investors own 16.17% of the company’s stock.

About Carter Bank and Trust

Carter Bank & Trust provides a range of retail and commercial banking products and services in Virginia and North Carolina. It accepts checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers loans, such as secured and unsecured commercial loans; secured and unsecured consumer loans for financing automobiles, home improvements, education, and personal investments; real estate construction and acquisition loans; and fixed and variable rate mortgage loans.

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