$0.28 EPS Expected for Carter Bankshares, Inc. (NASDAQ:CARE) This Quarter

Wall Street analysts expect that Carter Bankshares, Inc. (NASDAQ:CARE) will announce $0.28 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Carter Bankshares’ earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.26. The company is expected to announce its next quarterly earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Carter Bankshares will report full-year earnings of $1.14 per share for the current financial year. For the next fiscal year, analysts forecast that the firm will post earnings of $1.30 per share, with EPS estimates ranging from $1.20 to $1.38. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Carter Bankshares.

Carter Bankshares (NASDAQ:CARE) last announced its earnings results on Thursday, July 29th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The business had revenue of $34.44 million during the quarter, compared to analyst estimates of $32.83 million.

CARE has been the subject of a number of research analyst reports. Zacks Investment Research cut Carter Bankshares from a “hold” rating to a “sell” rating in a report on Wednesday, September 29th. Raymond James lowered Carter Bankshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 8th.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in Carter Bankshares by 4.2% in the first quarter. BlackRock Inc. now owns 1,801,620 shares of the company’s stock worth $25,150,000 after acquiring an additional 73,434 shares during the period. Vanguard Group Inc. grew its position in Carter Bankshares by 1.3% in the second quarter. Vanguard Group Inc. now owns 1,232,817 shares of the company’s stock worth $15,423,000 after acquiring an additional 15,878 shares during the period. Geode Capital Management LLC boosted its position in shares of Carter Bankshares by 18.2% during the second quarter. Geode Capital Management LLC now owns 431,324 shares of the company’s stock worth $5,395,000 after buying an additional 66,384 shares during the period. State Street Corp boosted its position in shares of Carter Bankshares by 7.1% during the second quarter. State Street Corp now owns 415,282 shares of the company’s stock worth $5,195,000 after buying an additional 27,568 shares during the period. Finally, Basswood Capital Management L.L.C. boosted its position in shares of Carter Bankshares by 319.7% during the second quarter. Basswood Capital Management L.L.C. now owns 363,101 shares of the company’s stock worth $4,542,000 after buying an additional 276,584 shares during the period. Institutional investors and hedge funds own 35.86% of the company’s stock.

Shares of Carter Bankshares stock traded down $0.08 during mid-day trading on Friday, reaching $14.62. 1,935 shares of the stock traded hands, compared to its average volume of 69,163. The business has a 50-day moving average of $13.30 and a 200 day moving average of $13.29. Carter Bankshares has a fifty-two week low of $6.72 and a fifty-two week high of $16.28. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.83 and a quick ratio of 0.83.

Carter Bankshares Company Profile

Carter Bankshares, Inc operates as a bank holding company, which offers deposit accounts, online account opening, and commercial, small business, and personal loan products and services. The company was founded by Worth Harris Carter, Jr. in 1974 and is headquartered in Martinsville, VA.

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