Carter Bankshares (NASDAQ:CARE) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Carter Bankshares (NASDAQ:CARE) issued its quarterly earnings data on Thursday. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16, Zacks reports. Carter Bankshares had a net margin of 6.07% and a return on equity of 4.17%.

Carter Bankshares Trading Up 4.4 %

Shares of Carter Bankshares stock traded up $0.77 during midday trading on Thursday, reaching $18.31. The company had a trading volume of 4,692 shares, compared to its average volume of 57,456. The stock has a fifty day moving average price of $18.10 and a 200 day moving average price of $17.47. Carter Bankshares has a fifty-two week low of $10.95 and a fifty-two week high of $20.40. The firm has a market cap of $422.39 million, a PE ratio of 29.33 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89.

Analysts Set New Price Targets

Separately, Hovde Group initiated coverage on shares of Carter Bankshares in a report on Wednesday, October 2nd. They set an “outperform” rating and a $22.00 price target on the stock.

Carter Bankshares Company Profile

Carter Bankshares, Inc operates as the bank holding company for Carter Bank & Trust that provides various banking products and services in the United States. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as certificates of deposits.