Carter Bankshares (NASDAQ:CARE) Posts Quarterly Earnings Results

Carter Bankshares (NASDAQ:CARE) issued its earnings results on Thursday. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.09), FiscalAI reports. Carter Bankshares had a return on equity of 7.64% and a net margin of 12.32%.The firm had revenue of $106.91 million during the quarter, compared to analysts’ expectations of $42.47 million.

Carter Bankshares Stock Up 1.0%

Shares of NASDAQ CARE traded up $0.25 during mid-day trading on Friday, reaching $24.11. 34,729 shares of the company were exchanged, compared to its average volume of 206,528. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.43. The stock has a market cap of $534.17 million, a price-to-earnings ratio of 17.47 and a beta of 0.44. Carter Bankshares has a 1 year low of $14.98 and a 1 year high of $24.91. The firm has a 50-day moving average of $22.05 and a 200 day moving average of $20.26.

Carter Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 25th. Investors of record on Monday, May 11th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Monday, May 11th.

Key Headlines Impacting Carter Bankshares

Here are the key news stories impacting Carter Bankshares this week:

• Positive Sentiment: Hovde Group raised its price target on CARE from $27 to $28 and kept an “outperform” rating — the new target implies roughly a mid-teens upside from the recent price, providing a fresh analyst vote of confidence for investors.
• Positive Sentiment: The board declared a quarterly cash dividend of $0.10 per share (ex-dividend and record dates in May), yielding roughly 1.6–1.7% annualized — a steady income signal that can support the share price for yield-oriented holders. Article Title
• Neutral Sentiment: Carter issued a company release with first-quarter financial details claiming substantially higher net income and diluted EPS (report cites $85.8M net income, $3.88 diluted EPS). If accurate, that would be materially positive; however, the figure conflicts with other published quarter figures, so investors will want clarity from the company on one consistent GAAP/adjusted presentation. Press Release
• Negative Sentiment: Several outlets reported that CARE’s reported EPS was $0.40 for the quarter, missing the consensus (~$0.49), which is a negative near-term earnings surprise and likely the main driver of analyst/investor caution. Article Title
• Neutral Sentiment: Reported revenues were cited at roughly $106.9M in some coverage (well above one set of analyst expectations), which could be positive if backed out in the company filing — investors will parse the revenue composition and any one-time items. Press Release

Analysts Set New Price Targets

Several equities research analysts have weighed in on CARE shares. Weiss Ratings upgraded Carter Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Zacks Research upgraded Carter Bankshares from a “strong sell” rating to a “hold” rating in a report on Tuesday, January 20th. Wall Street Zen upgraded Carter Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Hovde Group upped their target price on Carter Bankshares from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Freedom Capital upgraded Carter Bankshares to a “strong-buy” rating in a report on Thursday, December 25th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Carter Bankshares currently has an average rating of “Buy” and a consensus target price of $25.00.

Institutional Investors Weigh In On Carter Bankshares

A number of hedge funds have recently made changes to their positions in CARE. AQR Capital Management LLC lifted its stake in shares of Carter Bankshares by 88.1% during the 1st quarter. AQR Capital Management LLC now owns 25,175 shares of the company’s stock worth $407,000 after purchasing an additional 11,794 shares during the last quarter. Empowered Funds LLC increased its position in Carter Bankshares by 7.3% during the 1st quarter. Empowered Funds LLC now owns 90,725 shares of the company’s stock valued at $1,468,000 after buying an additional 6,157 shares in the last quarter. Jane Street Group LLC acquired a new position in Carter Bankshares during the 1st quarter valued at about $585,000. Creative Planning acquired a new position in Carter Bankshares during the 2nd quarter valued at about $330,000. Finally, Arrowstreet Capital Limited Partnership increased its position in Carter Bankshares by 7.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 46,795 shares of the company’s stock valued at $811,000 after buying an additional 3,066 shares in the last quarter. 41.48% of the stock is currently owned by hedge funds and other institutional investors.

About Carter Bankshares

Carter Bankshares, Inc is a bank holding company headquartered in Suffolk, Virginia, operating primarily through its subsidiary, Carter Bank & Trust. The company offers a full range of commercial and retail banking services, serving individuals, small and mid-sized businesses, and nonprofit organizations. Its financial products are designed to meet the needs of local customers across southeastern Virginia and northeastern North Carolina.

Carter Bank & Trust provides deposit accounts, including checking, savings and money market products, as well as certificates of deposit.