Carter Bankshares (CARE) Stock Price, News & Analysis

Company Overview

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. The company also offers commercial loans comprising secured and unsecured loans; consumer loans, such as secured and unsecured loans for financing automobiles, home improvements, education, overdraft protection, and personal investments, as well as residential mortgages; real estate construction, acquisition, commercial, and industrial loans; home equity lines of credit; and credit cards, as well as originates and holds fixed and variable rate mortgage loans. In addition, it provides other banking services that include safe deposit boxes, direct deposit of payroll, and social security checks; online banking products, including online and mobile banking, online account opening, bill pay, e-statement, mobile deposit, digital wallet, and ATM services; title insurance and other financial institution-related products and services; and treasury and corporate cash management services. Carter Bankshares, Inc. was founded in 1974 and is headquartered in Martinsville, Virginia.

Key Stats

• Today's Range: $18.68 to $18.94
• 50-Day Range: $17.01 to $20.30
• 52-Week Range: $10.95 to $20.40
• Volume: 24,610 shs
• Average Volume: 70,295 shs
• Market Capitalization: $435.10 million
• P/E Ratio: 30.42
• Dividend Yield: N/A
• Price Target: $21.50
• Consensus Rating: Buy

Carter Bankshares Stock Analysis - MarketRank™

Carter Bankshares scored higher than 38% of companies evaluated by MarketBeat, and ranked 734th out of 916 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.5 / 5
• Analyst Rating: Buy

Consensus Rating

Carter Bankshares has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 2 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Carter Bankshares has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: 33.33%

Earnings Growth

Earnings for Carter Bankshares are expected to grow by 33.33% in the coming year, from $0.90 to $1.20 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Carter Bankshares is 30.40, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 126.99.

Price to Earnings Ratio vs. Sector

The P/E ratio of Carter Bankshares is 30.40, which means that it is trading at a less expensive P/E ratio than the Finance sector average P/E ratio of about 46.52.

Price to Book Value per Share Ratio

Carter Bankshares has a P/B Ratio of 1.12. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 1.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

2.95% of the float of Carter Bankshares has been sold short.

Short Interest Ratio / Days to Cover

Carter Bankshares has a short interest ratio ("days to cover") of 10.1, which indicates bearish sentiment.

Change versus previous month

Short interest in Carter Bankshares has recently increased by 4.18%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Carter Bankshares does not currently pay a dividend.

Dividend Growth

Carter Bankshares does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

2.95% of the float of Carter Bankshares has been sold short.

Short Interest Ratio / Days to Cover

Carter Bankshares has a short interest ratio ("days to cover") of 10.1, which indicates bearish sentiment.

Change versus previous month

Short interest in Carter Bankshares has recently increased by 4.18%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 0.6 / 5
• News Sentiment: N/A

News Coverage This Week

MarketBeat has tracked 1 news article for Carter Bankshares this week, compared to 2 articles on an average week.

Search Interest

1 people have searched for CARE on MarketBeat in the last 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Carter Bankshares insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 1.86% of the stock of Carter Bankshares is held by insiders.

Percentage Held by Institutions

41.48% of the stock of Carter Bankshares is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

CARE Stock Analysis - Frequently Asked Questions

How have CARE shares performed this year?

Carter Bankshares' stock was trading at $14.97 at the start of the year. Since then, CARE stock has increased by 25.9% and is now trading at $18.85.
View the best growth stocks for 2024 here.

How were Carter Bankshares' earnings last quarter?

Carter Bankshares, Inc. (NASDAQ:CARE) released its earnings results on Thursday, July, 25th. The company reported $0.21 EPS for the quarter, hitting analysts' consensus estimates of $0.21. The firm earned $60.12 million during the quarter, compared to the consensus estimate of $34.62 million. Carter Bankshares had a trailing twelve-month return on equity of 4.17% and a net margin of 6.07%.

Who are Carter Bankshares' major shareholders?

Top institutional shareholders of Carter Bankshares include Geode Capital Management LLC (2.27%), State Street Corp (2.15%), Fourthstone LLC (1.19%) and Hotchkis & Wiley Capital Management LLC (0.69%). Insiders that own company stock include James W Haskins, Dyke Litz H Van, Edward Warren Matthews, Catharine L Midkiff, Michael R Bird, Gregory W Feldmann, Arthur Loran Adams, Jane Ann Davis, Curtis E Stephens, Kevin S Bloomfield, Robert M Bolton and Phyllis Q Karavatakis.
View institutional ownership trends.

How do I buy shares of Carter Bankshares?

Shares of CARE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Carter Bankshares own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Carter Bankshares investors own include Advanced Micro Devices (AMD), Tesla (TSLA), NVIDIA (NVDA), Meta Platforms (META), JPMorgan Chase & Co. (JPM), Netflix (NFLX) and Home Depot (HD).

Company Calendar

• Last Earnings: 7/25/2024
• Today: 11/21/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 1/23/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: National commercial banks
• Sub-Industry: Banking
• Current Symbol: NASDAQ:CARE
• CUSIP: N/A
• CIK: 1829576
• Web: www.carterbankandtrust.com
• Phone: (276) 656-1776
• Fax: N/A
• Employees: 730
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $21.50
• High Stock Price Target: $22.00
• Low Stock Price Target: $21.00
• Potential Upside/Downside: +14.1%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 2 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $0.62
• Trailing P/E Ratio: 30.40
• Forward P/E Ratio: 20.94
• P/E Growth: N/A
• Net Income: $23.19 million
• Net Margins: 6.07%
• Pretax Margin: 7.74%
• Return on Equity: 4.17%
• Return on Assets: 0.33%

Debt

• Debt-to-Equity Ratio: 0.23
• Current Ratio: 0.89
• Quick Ratio: 0.89

Sales & Book Value

• Annual Sales: $214.70 million
• Price / Sales: 2.03
• Cash Flow: $1.78 per share
• Price / Cash Flow: 10.59
• Book Value: $16.77 per share
• Price / Book: 1.12

Miscellaneous

• Outstanding Shares: 23,070,000
• Free Float: 22,643,000
• Market Cap: $434.87 million
• Optionable: Optionable
• Beta: 1.02