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

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

Carter Bankshares Stock Up 0.1 %

Shares of CARE stock opened at $17.79 on Friday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89. Carter Bankshares has a one year low of $10.95 and a one year high of $20.40. The company’s fifty day moving average price is $18.00 and its 200-day moving average price is $17.49. The company has a market capitalization of $410.42 million, a price-to-earnings ratio of 28.69 and a beta of 1.00.

Analyst Upgrades and Downgrades

Separately, Hovde Group assumed coverage on shares of Carter Bankshares in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $22.00 price target on the stock.

About Carter Bankshares

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.