Brokerages Anticipate Carter Bank and Trust (NASDAQ:CARE) Will Post Earnings of $0.28 Per Share

Brokerages expect Carter Bank and Trust (NASDAQ:CARE) to post earnings of $0.28 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Carter Bank and Trust’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Carter Bank and Trust will report full year earnings of $1.08 per share for the current fiscal year. For the next fiscal year, analysts expect that the company will report earnings of $0.99 per share, with EPS estimates ranging from $0.50 to $1.26. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Carter Bank and Trust.

CARE has been the topic of a number of recent research reports. DA Davidson raised Carter Bank and Trust from a “neutral” rating to a “buy” rating and cut their target price for the stock from $22.00 to $19.00 in a research note on Friday, March 6th. Zacks Investment Research lowered Carter Bank and Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, March 11th. Finally, ValuEngine cut shares of Carter Bank and Trust from a “hold” rating to a “sell” rating in a research note on Friday, March 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $20.00.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its holdings in shares of Carter Bank and Trust by 44.6% in the 4th quarter. Bank of Montreal Can now owns 2,876 shares of the company’s stock worth $68,000 after purchasing an additional 887 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Carter Bank and Trust by 3.0% during the fourth quarter. Rhumbline Advisers now owns 30,663 shares of the company’s stock valued at $727,000 after buying an additional 895 shares during the last quarter. Great West Life Assurance Co. Can purchased a new stake in shares of Carter Bank and Trust during the fourth quarter valued at $37,000. Bank of America Corp DE boosted its position in shares of Carter Bank and Trust by 9.0% during the fourth quarter. Bank of America Corp DE now owns 23,759 shares of the company’s stock valued at $563,000 after buying an additional 1,963 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in Carter Bank and Trust by 425.5% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,470 shares of the company’s stock worth $55,000 after buying an additional 2,000 shares in the last quarter. 34.38% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CARE traded up $1.19 during trading hours on Monday, reaching $10.25. 76,400 shares of the company traded hands, compared to its average volume of 72,551. The business’s 50-day moving average price is $15.68 and its two-hundred day moving average price is $19.34. Carter Bank and Trust has a 1 year low of $6.44 and a 1 year high of $24.25.

The company also recently disclosed a dividend, which was paid on Tuesday, March 3rd. Investors of record on Tuesday, February 18th were issued a $0.14 dividend. The ex-dividend date was Friday, February 14th.

Carter Bank and Trust Company Profile

Carter Bank & Trust provides a range of retail and commercial banking products and services in Virginia and North Carolina. It accepts checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers loans, such as secured and unsecured commercial loans; secured and unsecured consumer loans for financing automobiles, home improvements, education, and personal investments; real estate construction and acquisition loans; and fixed and variable rate mortgage loans.

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