Carter Bankshares, Inc. (CARE) To Go Ex-Dividend on November 9th

Carter Bankshares, Inc. (NASDAQ:CARE) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Monday, November 9th will be paid a dividend of $0.10 per share on Monday, November 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, November 9th.

Carter Bankshares has decreased its dividend by an average of 1.0% per year over the last three years. Carter Bankshares has a payout ratio of 20.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Carter Bankshares to earn $2.45 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 16.3%.

Carter Bankshares Stock Up 0.7%

Shares of CARE stock opened at $28.69 on Friday. The firm has a market cap of $635.77 million, a price-to-earnings ratio of 4.85 and a beta of 0.60. The stock has a 50-day moving average price of $30.39 and a 200 day moving average price of $27.63. Carter Bankshares has a 12 month low of $16.86 and a 12 month high of $36.06.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.19). Carter Bankshares had a net margin of 37.19% and a return on equity of 7.55%. The company had revenue of $46.22 million during the quarter, compared to the consensus estimate of $47.19 million. Sell-side analysts predict that Carter Bankshares will post 1.80 earnings per share for the current fiscal year.

About Carter Bankshares

Carter Bankshares, Inc is the bank holding company for Carter Bank & Trust, a community-focused financial institution headquartered in Martinsville, Virginia. The bank provides banking and financial services to individuals, businesses and organizations through its branch network and digital banking channels.

Carter Bank & Trust offers deposit products, residential and commercial real estate lending, consumer loans, business loans, treasury management and other financial services.