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 report issued on Wednesday, ValuEngine reports.

A number of other brokerages also recently issued reports on CARE. Zacks Investment Research downgraded Carter Bank and Trust from a buy rating to a hold rating in a research report on Monday, September 23rd. DA Davidson reiterated a neutral rating on shares of Carter Bank and Trust in a research report on Monday, July 22nd. Finally, BTIG Research upgraded Carter Bank and Trust from a neutral rating to a buy rating and set a $13.00 price target on the stock in a research report on Wednesday, August 14th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $19.50.

CARE stock traded down $0.06 during mid-day trading on Wednesday, reaching $18.90. 95,749 shares of the company’s stock were exchanged, compared to its average volume of 69,644. The firm has a 50 day moving average of $19.19. Carter Bank and Trust has a 12-month low of $14.45 and a 12-month high of $21.14.

Several institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of Carter Bank and Trust during the second quarter valued at approximately $25,232,000. Vanguard Group Inc. acquired a new position in shares of Carter Bank and Trust during the second quarter valued at approximately $7,946,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Carter Bank and Trust during the second quarter valued at approximately $2,600,000. Punch & Associates Investment Management Inc. acquired a new position in shares of Carter Bank and Trust during the first quarter valued at approximately $1,800,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Carter Bank and Trust during the second quarter valued at approximately $1,476,000. 23.74% of the stock is owned by institutional investors and hedge funds.

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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