Carter Bank and Trust (NASDAQ:CARE) Research Coverage Started at DA Davidson

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DA Davidson initiated coverage on shares of Carter Bank and Trust (NASDAQ:CARE) in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $22.00 target price on the stock.

Separately, FIG Partners began coverage on shares of Carter Bank and Trust in a report on Monday, April 15th. They issued a market perform rating and a $21.00 target price for the company.

Carter Bank and Trust stock opened at $19.80 on Wednesday. The business has a 50-day moving average price of $19.76. Carter Bank and Trust has a 12-month low of $14.45 and a 12-month high of $21.14.

Carter Bank and Trust (NASDAQ:CARE) last released its earnings results on Thursday, April 25th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.10 by $0.19. The firm had revenue of $31.70 million during the quarter, compared to the consensus estimate of $34.03 million. On average, research analysts expect that Carter Bank and Trust will post 1.13 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Seidman Lawrence B bought a new stake in Carter Bank and Trust during the 1st quarter valued at about $5,485,000. Punch & Associates Investment Management Inc. bought a new stake in Carter Bank and Trust during the 1st quarter valued at about $1,800,000. Banc Funds Co. LLC bought a new stake in Carter Bank and Trust during the 1st quarter valued at about $1,274,000. Permanens Capital L.P. bought a new stake in Carter Bank and Trust during the 1st quarter valued at about $950,000. Finally, Salzhauer Michael bought a new stake in Carter Bank and Trust during the 1st quarter valued at about $514,000. Hedge funds and other institutional investors own 16.17% 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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