Carter Bankshares (NASDAQ:CARE – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.19), FiscalAI reports. The company had revenue of $46.22 million for the quarter, compared to analysts’ expectations of $47.19 million. Carter Bankshares had a return on equity of 7.46% and a net margin of 36.79%.
Carter Bankshares Trading Down 1.5%
CARE stock traded down $0.47 during trading on Thursday, hitting $29.75. The company had a trading volume of 105,156 shares, compared to its average volume of 281,546. The company has a fifty day moving average price of $30.72 and a two-hundred day moving average price of $27.32. Carter Bankshares has a fifty-two week low of $16.78 and a fifty-two week high of $36.06. The company has a market cap of $659.37 million, a P/E ratio of 5.12 and a beta of 0.59.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on CARE shares. Hovde Group reiterated a “market perform” rating and set a $34.50 price objective (up from $30.00) on shares of Carter Bankshares in a research note on Monday, July 27th. Wall Street Zen lowered Carter Bankshares from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Carter Bankshares in a research report on Friday, August 7th. Finally, Raymond James Financial downgraded shares of Carter Bankshares from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $30.75.
Check Out Our Latest Report on Carter Bankshares
About Carter Bankshares
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.
Further Reading
- Five stocks we like better than Carter Bankshares
- Where’s the Beef? Trian-Led Buyout Proposal Values Wendy’s at $1.4B, But Is It Enough?
- Constellation Energy’s Nuclear Expansion Gets a $5 Billion Opening, Not a Guarantee
- Plugging In: Vertiv Cashes In On AI Demand
- Visa’s Toll Booth Keeps Collecting, But the Price Is Rising
Receive News & Ratings for Carter Bankshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Carter Bankshares and related companies with MarketBeat.com's FREE daily email newsletter.
