Key Points
- Director Elizabeth Walsh bought 4,575 shares at an average price of $26.20 on May 6, spending $119,865 and raising her holdings to 58,753 shares (an 8.44% increase), as disclosed in an SEC filing.
- Carter Bankshares declared a quarterly dividend of $0.10 (annualized $0.40) with an ex-dividend date of May 11 and payment on May 25, implying a yield of about 1.5%.
- Analysts hold a consensus "Buy" rating with an average target of $27.50 (several firms raised targets to $27–$28); the stock trades near its 12‑month high and shows a low P/E of 5.38 with a market cap around $580M.
Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) Director Elizabeth Walsh bought 4,575 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average cost of $26.20 per share, with a total value of $119,865.00. Following the completion of the purchase, the director owned 58,753 shares in the company, valued at $1,539,328.60. This represents a 8.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Carter Bankshares Stock Performance
Shares of CARE opened at $26.19 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.93 and a current ratio of 0.93. Carter Bankshares, Inc. has a twelve month low of $15.40 and a twelve month high of $26.58. The firm's 50 day moving average price is $22.64 and its two-hundred day moving average price is $20.63. The firm has a market cap of $580.37 million, a P/E ratio of 5.38 and a beta of 0.51.
Carter Bankshares (NASDAQ:CARE - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.09). Carter Bankshares had a return on equity of 7.93% and a net margin of 33.60%.The company had revenue of $106.91 million for the quarter, compared to the consensus estimate of $42.47 million. On average, analysts forecast that Carter Bankshares, Inc. will post 1.96 EPS for the current fiscal year.
Carter Bankshares Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, May 25th. Investors of record on Monday, May 11th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.40 dividend on an annualized basis and a yield of 1.5%.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Raymond James Financial restated an "outperform" rating and issued a $27.00 price target on shares of Carter Bankshares in a report on Monday, April 27th. Wall Street Zen upgraded Carter Bankshares from a "sell" rating to a "hold" rating in a report on Saturday, January 31st. Weiss Ratings raised Carter Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 9th. Hovde Group boosted their target price on Carter Bankshares from $27.00 to $28.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Finally, Zacks Research raised Carter Bankshares from a "strong sell" rating to a "hold" rating in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $27.50.
View Our Latest Research Report on Carter Bankshares
Institutional Investors Weigh In On Carter Bankshares
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its stake in shares of Carter Bankshares by 98.3% during the 4th quarter. Federated Hermes Inc. now owns 1,626 shares of the company's stock worth $32,000 after buying an additional 806 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Carter Bankshares by 140.6% during the second quarter. Geneos Wealth Management Inc. now owns 2,625 shares of the company's stock worth $46,000 after acquiring an additional 1,534 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Carter Bankshares by 243.2% during the fourth quarter. State of Alaska Department of Revenue now owns 3,233 shares of the company's stock worth $63,000 after acquiring an additional 2,291 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Carter Bankshares by 113.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company's stock valued at $65,000 after purchasing an additional 2,008 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in Carter Bankshares by 44.7% in the third quarter. New York State Common Retirement Fund now owns 4,531 shares of the company's stock valued at $88,000 after purchasing an additional 1,400 shares in the last quarter. 41.48% of the stock is owned by institutional investors.
Carter Bankshares Company Profile
(
Get Free Report)
Carter Bankshares, Inc is a bank holding company headquartered in Suffolk, Virginia, operating primarily through its subsidiary, Carter Bank & Trust. The company offers a full range of commercial and retail banking services, serving individuals, small and mid-sized businesses, and nonprofit organizations. Its financial products are designed to meet the needs of local customers across southeastern Virginia and northeastern North Carolina.
Carter Bank & Trust provides deposit accounts, including checking, savings and money market products, as well as certificates of deposit.
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