Carter Bank and Trust (NASDAQ:CARE) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Carter Bank and Trust (NASDAQ:CARE) from a sell rating to a hold rating in a research report released on Wednesday, ValuEngine reports.

Other equities analysts have also recently issued reports about the stock. BTIG Research upgraded shares of Carter Bank and Trust from a neutral rating to a buy rating and set a $13.00 price target for the company in a research report on Wednesday, August 14th. DA Davidson restated a neutral rating on shares of Carter Bank and Trust in a report on Monday, July 22nd. Finally, Zacks Investment Research cut shares of Carter Bank and Trust from a buy rating to a hold rating in a report on Monday, September 23rd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $19.50.

NASDAQ:CARE traded down $0.06 on Wednesday, hitting $18.90. The company had a trading volume of 95,749 shares, compared to its average volume of 65,879. The company’s 50 day moving average price is $19.19. Carter Bank and Trust has a 52 week low of $14.45 and a 52 week high of $21.14.

Large investors have recently bought and sold shares of the business. Bank of Montreal Can acquired a new stake in Carter Bank and Trust in the second quarter worth $37,000. Tower Research Capital LLC TRC acquired a new stake in Carter Bank and Trust in the second quarter worth $45,000. Strs Ohio acquired a new stake in Carter Bank and Trust in the second quarter worth $118,000. JPMorgan Chase & Co. acquired a new stake in Carter Bank and Trust in the second quarter worth $122,000. Finally, Morgan Stanley grew its holdings in Carter Bank and Trust by 16.7% in the second quarter. Morgan Stanley now owns 7,252 shares of the company’s stock worth $144,000 after purchasing an additional 1,040 shares during the period. Institutional investors and hedge funds own 23.74% of the company’s stock.

About Carter Bank and Trust

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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