Carter Bankshares (NASDAQ:CARE) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Carter Bankshares (NASDAQ:CARE) announced its quarterly earnings results on Thursday. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16, Zacks reports. Carter Bankshares had a return on equity of 4.17% and a net margin of 6.07%.

Carter Bankshares Price Performance

Shares of CARE opened at $17.79 on Friday. The firm has a fifty day simple moving average of $18.00 and a two-hundred day simple moving average of $17.49. The firm has a market cap of $410.42 million, a PE ratio of 28.69 and a beta of 1.00. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23. Carter Bankshares has a 1-year low of $10.95 and a 1-year high of $20.40.

Analyst Ratings Changes

Separately, Hovde Group began coverage on Carter Bankshares in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $22.00 target price for the company.

Carter Bankshares Company Profile

Carter Bankshares, Inc operates as the bank holding company for Carter Bank & Trust that provides various banking products and services in the United States. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as certificates of deposits.