Carter Bankshares, Inc. (NASDAQ:CARE) Shareholders Set to Receive $0.10 Quarterly Dividend

Carter Bankshares, Inc. (NASDAQ:CARE) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Monday, November 9th will be paid a dividend of $0.10 per share on Monday, November 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, November 9th.

Carter Bankshares has decreased its dividend by an average of 1.0% annually over the last three years. Carter Bankshares has a dividend payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carter Bankshares to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.8%.

Carter Bankshares Stock Performance

Shares of CARE opened at $29.89 on Friday. Carter Bankshares has a 52-week low of $16.78 and a 52-week high of $36.06. The firm has a market cap of $662.36 million, a price-to-earnings ratio of 18.89 and a beta of 0.59. The business’s fifty day moving average is $30.70 and its 200-day moving average is $27.37.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.19). The business had revenue of $46.22 million during the quarter, compared to analyst estimates of $47.19 million. Carter Bankshares had a net margin of 36.79% and a return on equity of 7.46%. As a group, research analysts forecast that Carter Bankshares will post 2.02 EPS for the current fiscal year.

Carter Bankshares Company Profile

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.