Carter Bankshares (NASDAQ:CARE) Reaches New 12-Month High – What’s Next?

Posted by George Bondi on Jul 24th, 2026

Carter Bankshares, Inc. (NASDAQ:CARE – Get Free Report)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $35.14 and last traded at $34.9850, with a volume of 104293 shares. The stock had previously closed at $33.90.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CARE shares. Raymond James Financial downgraded Carter Bankshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. Wall Street Zen raised Carter Bankshares from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Carter Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Hovde Group downgraded shares of Carter Bankshares from an “outperform” rating to a “market perform” rating and set a $30.00 price target on the stock. in a report on Wednesday, June 3rd. Finally, Freedom Capital cut shares of Carter Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.50.

View Our Latest Analysis on CARE

Carter Bankshares Stock Up 2.7%

The stock has a market capitalization of $773.26 million, a P/E ratio of 7.15 and a beta of 0.51. The company has a fifty day moving average price of $30.44 and a 200-day moving average price of $25.09.

Carter Bankshares (NASDAQ:CARE – Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $0.53 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.65). The firm had revenue of $90.22 million for the quarter, compared to analysts’ expectations of $55.90 million. Carter Bankshares had a net margin of 33.60% and a return on equity of 7.51%. As a group, research analysts expect that Carter Bankshares, Inc. will post 1.91 earnings per share for the current fiscal year.

Carter Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Monday, August 10th. Carter Bankshares’s dividend payout ratio is currently 8.21%.

Insider Transactions at Carter Bankshares

In related news, Director Elizabeth L. Walsh purchased 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average price of $26.20 per share, for a total transaction of $119,865.00. Following the completion of the transaction, the director owned 58,753 shares in the company, valued at approximately $1,539,328.60. The trade was a 8.44% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bradford N. Langs sold 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $26.47, for a total value of $145,585.00. Following the sale, the insider owned 27,093 shares in the company, valued at approximately $717,151.71. This trade represents a 16.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. boosted its stake in shares of Carter Bankshares by 98.3% during the 4th quarter. Federated Hermes Inc. now owns 1,626 shares of the company’s stock worth $32,000 after purchasing an additional 806 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Carter Bankshares by 140.6% during the second quarter. Geneos Wealth Management Inc. now owns 2,625 shares of the company’s stock valued at $46,000 after buying an additional 1,534 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Carter Bankshares by 397.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,311 shares of the company’s stock worth $54,000 after acquiring an additional 1,846 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Carter Bankshares by 243.2% during the 4th quarter. State of Alaska Department of Revenue now owns 3,233 shares of the company’s stock worth $63,000 after acquiring an additional 2,291 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Carter Bankshares by 113.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock valued at $65,000 after acquiring an additional 2,008 shares during the period. 41.48% of the stock is owned by hedge funds and other institutional investors.

About Carter Bankshares

(Get Free Report)

Carter Bankshares, Inc is a bank holding company headquartered in Suffolk, Virginia, operating primarily through its subsidiary, Carter Bank & Trust. The company offers a full range of commercial and retail banking services, serving individuals, small and mid-sized businesses, and nonprofit organizations. Its financial products are designed to meet the needs of local customers across southeastern Virginia and northeastern North Carolina.

Carter Bank & Trust provides deposit accounts, including checking, savings and money market products, as well as certificates of deposit.