Equities researchers at Hovde Group assumed coverage on shares of Carter Bankshares (NASDAQ:CARE – Get Free Report) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Hovde Group’s target price indicates a potential upside of 29.34% from the company’s current price.
Separately, Raymond James raised their price objective on shares of Carter Bankshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th.
Read Our Latest Stock Analysis on Carter Bankshares
Carter Bankshares Stock Performance
Carter Bankshares (NASDAQ:CARE – Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate of $0.21. The company had revenue of $60.12 million during 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%. On average, equities analysts forecast that Carter Bankshares will post 0.88 earnings per share for the current year.
Institutional Trading of Carter Bankshares
Several hedge funds have recently bought and sold shares of CARE. SG Americas Securities LLC acquired a new stake in Carter Bankshares in the 3rd quarter valued at $138,000. XTX Topco Ltd acquired a new stake in Carter Bankshares in the 2nd quarter valued at $239,000. Truist Financial Corp grew its position in Carter Bankshares by 43.5% in the 2nd quarter. Truist Financial Corp now owns 17,790 shares of the company’s stock valued at $269,000 after purchasing an additional 5,394 shares during the period. Black Maple Capital Management LP acquired a new stake in Carter Bankshares in the 1st quarter valued at $293,000. Finally, Mendon Capital Advisors Corp acquired a new stake in Carter Bankshares in the 2nd quarter valued at $454,000. 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.
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