Analysts Expect Carter Bank and Trust (NASDAQ:CARE) to Post $0.28 EPS

Analysts expect that Carter Bank and Trust (NASDAQ:CARE) will post earnings per share of $0.28 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Carter Bank and Trust’s earnings, with estimates ranging from $0.27 to $0.28. The company is expected to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Carter Bank and Trust will report full year earnings of $1.08 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $0.99 per share, with EPS estimates ranging from $0.50 to $1.26. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Carter Bank and Trust.

CARE has been the topic of several recent research reports. ValuEngine cut shares of Carter Bank and Trust from a “hold” rating to a “sell” rating in a research note on Friday, March 20th. Zacks Investment Research lowered shares of Carter Bank and Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, March 11th. Finally, DA Davidson upgraded shares of Carter Bank and Trust from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $22.00 to $19.00 in a report on Friday, March 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Carter Bank and Trust currently has a consensus rating of “Hold” and an average target price of $20.00.

Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. lifted its holdings in shares of Carter Bank and Trust by 285,076.8% during the fourth quarter. Russell Investments Group Ltd. now owns 1,140,707 shares of the company’s stock valued at $27,055,000 after purchasing an additional 1,140,307 shares during the last quarter. Alliancebernstein L.P. raised its holdings in Carter Bank and Trust by 10,987.0% during the 4th quarter. Alliancebernstein L.P. now owns 1,141,964 shares of the company’s stock worth $27,087,000 after buying an additional 1,131,664 shares during the period. Boston Partners acquired a new stake in Carter Bank and Trust during the 4th quarter worth about $3,791,000. State Street Corp lifted its stake in Carter Bank and Trust by 42.4% during the third quarter. State Street Corp now owns 437,304 shares of the company’s stock valued at $8,261,000 after buying an additional 130,251 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Carter Bank and Trust by 157.1% during the fourth quarter. Acadian Asset Management LLC now owns 183,268 shares of the company’s stock valued at $4,347,000 after buying an additional 111,981 shares in the last quarter. 34.38% of the stock is currently owned by institutional investors.

NASDAQ CARE traded up $1.19 on Monday, reaching $10.25. The company’s stock had a trading volume of 76,400 shares, compared to its average volume of 72,551. Carter Bank and Trust has a twelve month low of $6.44 and a twelve month high of $24.25. The firm’s 50 day moving average is $15.68 and its two-hundred day moving average is $19.34.

The business also recently announced a dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.14 dividend. The ex-dividend date was Friday, February 14th.

Carter Bank and Trust Company Profile

Carter Bank & Trust provides a range of retail and commercial banking products and services in Virginia and North Carolina. It accepts checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers loans, such as secured and unsecured commercial loans; secured and unsecured consumer loans for financing automobiles, home improvements, education, and personal investments; real estate construction and acquisition loans; and fixed and variable rate mortgage loans.

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