Carter Bankshares, Inc. (NASDAQ:CARE – Get Rating) – DA Davidson analysts raised their earnings per share (EPS) estimates for fiscal year 2022 for Carter Bankshares shares in a research report delivered to clients and to investors on Wednesday, March 30. DA Davidson analyst K. Fitzsimmons now expects the company to post earnings per share of $1.46 for the year, up from its previous forecast of $1.38.

A number of other stock analysts have also recently commented on CARE. Zacks Investment Research upgraded Carter Bankshares from a “buy” rating to a “hold” rating in a Tuesday, February 8 research note. Piper Sandler assumed coverage for Carter Bankshares in a Friday, Jan. 21, report. They set a “neutral” rating and a target price of $17.00 on the stock.

NASDAQ CARE opened at $17.37 on Friday. The stock’s 50-day simple moving average is $16.17 and its two-hundred-day simple moving average is $15.41. The company has a market capitalization of $440.47 million, a price-earnings ratio of 14.48 and a beta of 1.16. Carter Bankshares has a 12-month low of $10.02 and a 12-month high of $17.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt ratio of 0.02. Carter Bankshares (NASDAQ:CARE – Get Rating) last released quarterly earnings data on Thursday, January 27. The company reported EPS of $0.21 for the quarter, missing the consensus estimate of $0.34 per ($0.13). The company posted revenue of $33.83 million for the quarter, versus $34.39 million expected by analysts. Carter Bankshares had a net margin of 19.41% and a return on equity of 7.89%.

Major investors have recently changed their stakes in the company. Goldman Sachs Group Inc. increased its stake in shares of Carter Bankshares by 84.0% during the second quarter. Goldman Sachs Group Inc. now owns 32,462 shares of the company valued at $406,000 after acquiring 14,815 additional shares last quarter. Morgan Stanley increased its holdings in Carter Bankshares by 287.9% in the second quarter. Morgan Stanley now owns 21,553 shares of the company valued at $269,000 after buying an additional 15,996 shares in the last quarter. Millennium Management LLC bought a new stake in Carter Bankshares in the second quarter worth $717,000. SG Americas Securities LLC acquired a new stake in Carter Bankshares in the third quarter worth approximately $241,000. Finally, BlackRock Inc. increased its position in shares of Carter Bankshares by 1.4% in the third quarter. BlackRock Inc. now owns 1,792,571 shares of the company valued at $25,489,000 after purchasing an additional 25,119 shares last quarter. 35.34% of the shares are held by institutional investors and hedge funds.

Carter Bankshares Company Profile (Get an assessment)

Carter Bankshares, Inc. operates as a bank holding company, providing deposit accounts, online account opening, and commercial, small business, and personal lending products and services. The company was founded by Worth Harris Carter, Jr. in 1974 and is based in Martinsville, VA.

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