Carter Bank and Trust (NASDAQ:CARE) Raised to Buy at BTIG Research

Carter Bank and Trust (NASDAQ:CARE) was upgraded by BTIG Research from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, 24/7 WallStreet reports. The firm presently has a $13.00 target price on the stock. BTIG Research’s price objective indicates a potential downside of 32.01% from the stock’s current price.

CARE has been the topic of several other reports. Zacks Investment Research upgraded Carter Bank and Trust from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a report on Friday, August 9th. DA Davidson restated a “neutral” rating on shares of Carter Bank and Trust in a report on Monday, July 22nd.

CARE stock opened at $19.12 on Wednesday. The business’s 50-day simple moving average is $19.50. Carter Bank and Trust has a 1-year low of $14.45 and a 1-year high of $21.14.

Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of Carter Bank and Trust in the second quarter valued at about $37,000. Tower Research Capital LLC TRC bought a new stake in shares of Carter Bank and Trust in the second quarter valued at about $45,000. Strs Ohio bought a new stake in shares of Carter Bank and Trust in the second quarter valued at about $118,000. JPMorgan Chase & Co. bought a new stake in shares of Carter Bank and Trust in the second quarter valued at about $122,000. Finally, Permanens Capital L.P. lifted its holdings in shares of Carter Bank and Trust by 20.2% in the second quarter. Permanens Capital L.P. now owns 59,500 shares of the company’s stock valued at $1,175,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 15.91% of the company’s stock.

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.

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