Carter Bankshares, Inc. (NASDAQ:CARE) Shareholders to Collect $0.10 Quarterly Dividend

Carter Bankshares, Inc. (NASDAQ:CARE) announced a quarterly dividend on Thursday, October 29th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.10 per share on Monday, November 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, November 9th.

Carter Bankshares has decreased its dividend by an average of 1.0% per year over the last three years. Carter Bankshares has a payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carter Bankshares to earn $2.53 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 15.8%.

Carter Bankshares Trading Down 1.1%

CARE stock opened at $29.89 on Friday. The company has a market capitalization of $662.36 million, a PE ratio of 5.14 and a beta of 0.59. Carter Bankshares has a 12-month low of $16.78 and a 12-month high of $36.06. The business’s fifty day moving average price is $30.70 and its 200 day moving average price is $27.37.

Carter Bankshares (NASDAQ:CARE) last posted its earnings results on Thursday, October 29th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.19). Carter Bankshares had a return on equity of 7.46% and a net margin of 36.79%. The firm had revenue of $46.22 million for the quarter, compared to analyst estimates of $47.19 million. Research analysts predict that Carter Bankshares will post 2.02 EPS for the current fiscal year.

Carter Bankshares Company Profile

Carter Bankshares, Inc is the bank holding company for Carter Bank & Trust, a community-focused financial institution headquartered in Martinsville, Virginia. The bank provides banking and financial services to individuals, businesses and organizations through its branch network and digital banking channels.

Carter Bank & Trust offers deposit products, residential and commercial real estate lending, consumer loans, business loans, treasury management and other financial services.