DA Davidson Begins Coverage on Carter Bank and Trust (NASDAQ:CARE)

DA Davidson began coverage on shares of Carter Bank and Trust (NASDAQ:CARE) in a report released on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $22.00 price objective on the stock.

Separately, FIG Partners began coverage on Carter Bank and Trust in a research note on Monday, April 15th. They set a market perform rating and a $21.00 price objective on the stock.

CARE opened at $19.80 on Wednesday. Carter Bank and Trust has a 52 week low of $14.45 and a 52 week high of $21.14. The firm’s fifty day moving average is $19.76.

Carter Bank and Trust (NASDAQ:CARE) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.19. The company had revenue of $31.70 million for the quarter, compared to analyst estimates of $34.03 million. Research analysts expect that Carter Bank and Trust will post 1.13 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. ELCO Management Co. LLC acquired a new stake in shares of Carter Bank and Trust during the first quarter valued at $399,000. M3F Inc. acquired a new stake in shares of Carter Bank and Trust during the first quarter valued at $422,000. Salzhauer Michael acquired a new stake in Carter Bank and Trust in the 1st quarter worth about $514,000. Permanens Capital L.P. acquired a new stake in Carter Bank and Trust in the 1st quarter worth about $950,000. Finally, Banc Funds Co. LLC acquired a new stake in Carter Bank and Trust in the 1st quarter worth about $1,274,000. 16.17% of the stock is currently owned by institutional investors and hedge funds.

Carter Bank and Trust Company Profile

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.

Read More: Book Value Per Share – BVPS

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