Hovde Group started coverage on shares of Carter Bankshares (NASDAQ:CARE – Free Report) in a research report sent to investors on Wednesday, Marketbeat.com reports. The firm issued an outperform rating and a $22.00 price target on the stock.
Separately, Raymond James boosted their target price on shares of Carter Bankshares from $20.00 to $21.00 and gave the company an outperform rating in a research note on Thursday, August 29th.
Read Our Latest Stock Analysis on Carter Bankshares
Carter Bankshares Stock Up 0.4 %
Carter Bankshares (NASDAQ:CARE – Get Free Report) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.21 earnings per share for the quarter, hitting the consensus estimate of $0.21. Carter Bankshares had a return on equity of 4.09% and a net margin of 5.41%. The company had revenue of $60.12 million during the quarter, compared to the consensus estimate of $34.62 million. Equities analysts expect that Carter Bankshares will post 0.88 earnings per share for the current fiscal year.
Institutional Trading of Carter Bankshares
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Carter Bankshares during the 3rd quarter worth about $138,000. XTX Topco Ltd purchased a new position in Carter Bankshares during the second quarter worth approximately $239,000. Truist Financial Corp raised its stake in Carter Bankshares by 43.5% during the second quarter. Truist Financial Corp now owns 17,790 shares of the company’s stock worth $269,000 after purchasing an additional 5,394 shares during the period. Black Maple Capital Management LP acquired a new position in shares of Carter Bankshares in the 1st quarter valued at $293,000. Finally, Mendon Capital Advisors Corp purchased a new stake in shares of Carter Bankshares during the 2nd quarter valued at $454,000. Hedge funds and other institutional investors own 41.48% of the company’s stock.
Carter Bankshares Company Profile
Carter Bankshares, Inc operates as the bank holding company for Carter Bank & Trust that provides various banking products and services in the United States. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as certificates of deposits.
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