Carter Bank and Trust (NASDAQ:CARE) Short Interest Up 13.8% in November
Carter Bank and Trust (NASDAQ:CARE) saw a significant growth in short interest during the month of November. As of November 29th, there was short interest totalling 478,100 shares, a growth of 13.8% from the November 14th total of 420,300 shares. Based on an average trading volume of 117,900 shares, the days-to-cover ratio is currently 4.1 days. Approximately 2.1% of the company’s shares are sold short.
CARE stock traded up $0.11 during mid-day trading on Friday, reaching $22.42. 39,588 shares of the stock traded hands, compared to its average volume of 129,714. Carter Bank and Trust has a one year low of $14.45 and a one year high of $22.99. The business has a 50-day moving average price of $20.55 and a two-hundred day moving average price of $19.72.
CARE has been the topic of a number of recent research reports. Raymond James began coverage on Carter Bank and Trust in a research report on Thursday, October 3rd. They set an “outperform” rating on the stock. Zacks Investment Research lowered Carter Bank and Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 8th. Finally, ValuEngine upgraded Carter Bank and Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Carter Bank and Trust presently has a consensus rating of “Hold” and a consensus target price of $19.50.
Carter Bank and Trust Company Profile
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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