Carter Bankshares, Inc. (NASDAQ:CARE) is expected to post earnings of $0.36 per share

Equity research analysts expect Carter Bankshares, Inc. (NASDAQ:CARE – Get Rating) to post earnings of $0.36 per share for the current quarter, Zacks reports. Three analysts have made estimates for Carter Bankshares earnings, with the highest EPS estimate of $0.39 and the lowest estimate of $0.34. Carter Bankshares reported earnings of $0.21 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 71.4%. The company is expected to announce its next results on Monday, January 1.

According to Zacks, analysts expect Carter Bankshares to report annual earnings of $1.54 per share for the current fiscal year, with EPS estimates ranging from $1.51 to $1.60. For the next fiscal year, analysts expect the company to report earnings of $1.69 per share, with EPS estimates ranging from $1.50 to $1.83. Zacks earnings per share calculations are an average based on a survey of analysts who follow Carter Bankshares.

Several research companies have recently weighed in on CARE. Zacks Investment Research moved shares of Carter Bankshares from a “hold” rating to a “buy” rating and set a target price of $19.00 on the stock in a Friday, April 1 research report. Piper Sandler assumed coverage for Carter Bankshares shares in a Friday, Jan. 21 research note. They set a “neutral” rating and a target price of $17.00 for the company.

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Institutional investors and hedge funds have recently been buying and selling shares of the company. Petiole USA ltd purchased a new stake in Carter Bankshares during the 4th quarter for a value of approximately $5,385,000. Maltese Capital Management LLC increased its position in Carter Bankshares by 283.2% during the 4th quarter. Maltese Capital Management LLC now owns 315,000 shares of the company valued at $4,848,000 after purchasing an additional 232,800 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in Carter Bankshares during Q3 worth approximately $2,221,000. Dimensional Fund Advisors LP increased its position in Carter Bankshares by 68.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 185,083 shares of the company valued at $3,215,000 after purchasing an additional 75,519 shares during the period. Finally, Franklin Resources Inc. acquired a new position in Carter Bankshares during Q3 worth approximately $831,000. 38.21% of the shares are currently held by institutional investors and hedge funds.

NASDAQ CARE shares traded down $0.16 at midday Wednesday, hitting $14.66. The company’s shares had a trading volume of 144 shares, compared to its average volume of 82,444. The company has a 50-day moving average price of $16.62 and a 200-day moving average price of 15. $93. Carter Bankshares has a one-year minimum of $10.02 and a one-year maximum of $17.99. The company has a market capitalization of $360.34 million, a price-earnings ratio of 12.17 and a beta of 1.11.

About Carter Bankshares (Get an evaluation)

Carter Bankshares, Inc operates as a bank holding company for Carter Bank & Trust which provides various banking products and services. It accepts a variety of deposit products, including checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers commercial loans including secured and unsecured loans; consumer loans, such as secured and unsecured loans for automobile financing, home improvement, education, overdraft protection and personal investments, and residential mortgages; loans for the construction and acquisition of real estate; home equity lines of credit; and credit cards, as well as issues and holds fixed and variable rate mortgages.

Further reading

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Earnings history and estimates for Carter Bankshares (NASDAQ: CARE)

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