Research analysts at Hovde Group assumed coverage on shares of Carter Bankshares (NASDAQ:CARE – Get Free Report) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Hovde Group’s price target would indicate a potential upside of 29.34% from the company’s previous close.
Separately, Raymond James lifted their target price on Carter Bankshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th.
View Our Latest Stock Analysis on CARE
Carter Bankshares Price Performance
Carter Bankshares (NASDAQ:CARE – Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $60.12 million for the quarter, compared to the consensus estimate of $34.62 million. Carter Bankshares had a net margin of 5.41% and a return on equity of 4.09%. As a group, analysts anticipate that Carter Bankshares will post 0.88 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Carter Bankshares
Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in shares of Carter Bankshares during the 3rd quarter worth $138,000. XTX Topco Ltd bought a new stake in shares of Carter Bankshares during the 2nd quarter worth $239,000. Truist Financial Corp raised its stake in shares of Carter Bankshares by 43.5% during the 2nd 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 bought a new stake in shares of Carter Bankshares during the 1st quarter worth $293,000. Finally, Mendon Capital Advisors Corp bought a new stake in Carter Bankshares in the 2nd quarter valued at about $454,000. 41.48% of the stock is currently owned by institutional investors.
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.
Featured Stories
- Five stocks we like better than Carter Bankshares
- How to Calculate Retirement Income: MarketBeat’s Calculator
- When Is the Best Time to Invest in Mutual Funds?
- Special Purpose Acquisition Company (SPAC) What You Need to Know
- Is NVIDIA Stock in a Correction or Consolidation?
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- 3 Oversold Stocks with Big RSI Rebound Potential
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.