Carter Bank and Trust (NASDAQ:CARE) Given Consensus Rating of “Hold” by Analysts

Carter Bank and Trust (NASDAQ:CARE) has earned an average rating of “Hold” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $17.00.

A number of equities analysts recently commented on the company. Zacks Investment Research lowered Carter Bank and Trust from a “buy” rating to a “hold” rating in a research note on Monday, January 6th. ValuEngine raised Carter Bank and Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Raymond James initiated coverage on Carter Bank and Trust in a research note on Thursday, October 3rd. They set an “outperform” rating for the company.

Several large investors have recently bought and sold shares of CARE. Wells Fargo & Company MN lifted its stake in shares of Carter Bank and Trust by 441.3% in the 2nd quarter. Wells Fargo & Company MN now owns 47,605 shares of the company’s stock valued at $940,000 after purchasing an additional 38,811 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Carter Bank and Trust in the second quarter worth approximately $122,000. Bank of Montreal Can purchased a new stake in shares of Carter Bank and Trust in the second quarter worth approximately $37,000. Charles Schwab Investment Management Inc. purchased a new stake in shares of Carter Bank and Trust in the second quarter worth approximately $2,600,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Carter Bank and Trust in the second quarter worth approximately $1,476,000. 25.19% of the stock is owned by institutional investors and hedge funds.

Shares of Carter Bank and Trust stock opened at $21.18 on Friday. The stock has a 50 day moving average of $22.02 and a 200 day moving average of $20.11. Carter Bank and Trust has a 12 month low of $15.30 and a 12 month high of $24.25.

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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