Brokerages Set Carter Bankshares, Inc. (NASDAQ:CARE) Price Target at $25.00

Shares of Carter Bankshares, Inc. (NASDAQ:CARE) have received an average rating of “Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.00.

CARE has been the subject of a number of research reports. Wall Street Zen raised Carter Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Zacks Research raised Carter Bankshares from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings raised Carter Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Finally, Hovde Group boosted their price target on Carter Bankshares from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Friday.

Carter Bankshares Price Performance

CARE stock opened at $24.11 on Friday. The stock has a 50-day moving average price of $22.10 and a two-hundred day moving average price of $20.30. Carter Bankshares has a 12-month low of $14.98 and a 12-month high of $24.91. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.43. The company has a market cap of $534.28 million, a PE ratio of 4.95 and a beta of 0.44.

Carter Bankshares (NASDAQ:CARE) last posted its quarterly earnings results on Thursday, April 23rd. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.09). Carter Bankshares had a net margin of 33.60% and a return on equity of 7.93%. The firm had revenue of $106.91 million for the quarter, compared to analysts’ expectations of $42.47 million. As a group, research analysts predict that Carter Bankshares will post 1.88 EPS for the current year.

Carter Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 25th. Shareholders 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CARE. Federated Hermes Inc. lifted its stake in shares of Carter Bankshares by 98.3% during the fourth quarter. Federated Hermes Inc. now owns 1,626 shares of the company’s stock worth $32,000 after purchasing an additional 806 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Carter Bankshares by 140.6% during the second quarter. Geneos Wealth Management Inc. now owns 2,625 shares of the company’s stock worth $46,000 after purchasing an additional 1,534 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Carter Bankshares by 243.2% during the fourth quarter. State of Alaska Department of Revenue now owns 3,233 shares of the company’s stock worth $63,000 after purchasing an additional 2,291 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Carter Bankshares by 113.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $65,000 after purchasing an additional 2,008 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Carter Bankshares by 44.7% during the third quarter. New York State Common Retirement Fund now owns 4,531 shares of the company’s stock worth $88,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 41.48% of the company’s stock.

Key Carter Bankshares News

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

• Positive Sentiment: Hovde Group raised its price target on CARE to $28 and kept an “outperform” rating — the new target implies meaningful upside from current levels, supporting buying interest.
• Positive Sentiment: Carter declared a quarterly cash dividend of $0.10 per share (ex‑dividend and record dates in May), implying an annualized yield around 1.6–1.7% — a modest income cue that can support the stock. Dividend Announcement
• Neutral Sentiment: The company published a Q1 press release reporting quarterly net income of $85.8M, or $3.88 diluted EPS, and higher net interest income — figures that, if accurate and recurring, would be strongly positive but appear to conflict with other summaries; read the filing/press release for detail. Company Q1 Press Release
• Negative Sentiment: Third‑party reports (MarketBeat/Zacks summaries) show CARE reported $0.40 EPS for the quarter, missing consensus (~$0.49) — that miss and mixed messaging on revenue/earnings have created short‑term uncertainty and likely weighed on sentiment. Earnings Miss Article

Carter Bankshares Company Profile

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.