Carter Bankshares (NASDAQ:CARE) PT Raised to $21.00 at Raymond James

Carter Bankshares (NASDAQ:CARE) had its price objective raised by research analysts at Raymond James from $20.00 to $21.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Raymond James’ target price suggests a potential upside of 21.39% from the stock’s previous close.

Carter Bankshares Stock Performance

Shares of CARE stock opened at $17.30 on Thursday. Carter Bankshares has a one year low of $10.43 and a one year high of $17.45. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.92 and a current ratio of 0.92. The company has a 50 day moving average price of $15.77 and a 200 day moving average price of $13.73. The firm has a market capitalization of $398.16 million, a price-to-earnings ratio of 30.35 and a beta of 1.03.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Carter Bankshares had a net margin of 5.41% and a return on equity of 4.14%. The company had revenue of $60.12 million during the quarter, compared to analyst estimates of $34.62 million. Sell-side analysts anticipate that Carter Bankshares will post 0.88 EPS for the current year.

Institutional Investors Weigh In On Carter Bankshares

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Carter Bankshares by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,245,205 shares of the company’s stock worth $15,739,000 after acquiring an additional 17,327 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Carter Bankshares by 9.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 892,414 shares of the company’s stock valued at $13,493,000 after purchasing an additional 74,317 shares in the last quarter. American Century Companies Inc. grew its holdings in Carter Bankshares by 8.2% during the 2nd quarter. American Century Companies Inc. now owns 337,743 shares of the company’s stock valued at $5,107,000 after purchasing an additional 25,472 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Carter Bankshares by 31.8% during the 4th quarter. Russell Investments Group Ltd. now owns 95,579 shares of the company’s stock valued at $1,431,000 after purchasing an additional 23,085 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Carter Bankshares by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,138 shares of the company’s stock valued at $1,408,000 after purchasing an additional 8,160 shares in the last quarter. Institutional investors and hedge funds 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.