Carter Bank and Trust Forecasted to Post Q3 2020 Earnings of $0.08 Per Share (NASDAQ:CARE)

Carter Bank and Trust (NASDAQ:CARE) – Investment analysts at DA Davidson issued their Q3 2020 earnings per share estimates for shares of Carter Bank and Trust in a report issued on Tuesday, July 28th. DA Davidson analyst K. Fitzsimmons forecasts that the company will post earnings of $0.08 per share for the quarter. DA Davidson has a “Neutral” rating and a $10.50 price objective on the stock.

Other equities research analysts have also recently issued research reports about the company. ValuEngine raised Carter Bank and Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Zacks Investment Research raised Carter Bank and Trust from a “sell” rating to a “hold” rating in a report on Wednesday, July 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Carter Bank and Trust presently has a consensus rating of “Hold” and a consensus price target of $16.83.

Shares of Carter Bank and Trust stock opened at $7.05 on Friday. The business has a 50 day simple moving average of $7.45 and a two-hundred day simple moving average of $11.44. Carter Bank and Trust has a 12 month low of $6.44 and a 12 month high of $24.25.

Carter Bank and Trust (NASDAQ:CARE) last announced its earnings results on Thursday, July 23rd. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.07.

Several large investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can purchased a new position in Carter Bank and Trust in the fourth quarter worth approximately $37,000. Ladenburg Thalmann Financial Services Inc. grew its position in Carter Bank and Trust by 425.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,470 shares of the company’s stock worth $55,000 after acquiring an additional 2,000 shares during the period. Citigroup Inc. grew its position in Carter Bank and Trust by 39.2% in the first quarter. Citigroup Inc. now owns 6,445 shares of the company’s stock worth $59,000 after acquiring an additional 1,815 shares during the period. BNP Paribas Arbitrage SA grew its position in Carter Bank and Trust by 26.7% in the first quarter. BNP Paribas Arbitrage SA now owns 6,970 shares of the company’s stock worth $64,000 after acquiring an additional 1,468 shares during the period. Finally, Fourthstone LLC purchased a new position in Carter Bank and Trust in the second quarter worth approximately $82,000. 33.91% of the stock is owned by hedge funds and other institutional investors.

About Carter Bank and Trust

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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