Carter Bankshares, Inc. Declares Quarterly Dividend of $0.10 (NASDAQ:CARE)

Carter Bankshares, Inc. (NASDAQ:CARE) declared a quarterly dividend on Wednesday, July 22nd. Shareholders of record on Monday, August 10th will be given a dividend of 0.10 per share on Monday, August 24th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, August 10th.

Carter Bankshares has decreased its dividend by an average of 1.0%annually over the last three years. Carter Bankshares has a dividend payout ratio of 20.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Carter Bankshares to earn $2.50 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 16.0%.

Carter Bankshares Stock Performance

Shares of NASDAQ:CARE traded up $0.98 on Thursday, reaching $33.90. The company’s stock had a trading volume of 424,606 shares, compared to its average volume of 282,203. The company has a 50-day simple moving average of $30.31 and a 200 day simple moving average of $24.98. Carter Bankshares has a 52-week low of $16.78 and a 52-week high of $35.03. The company has a market cap of $753.26 million, a P/E ratio of 6.96 and a beta of 0.51.

Carter Bankshares (NASDAQ:CARE) last announced its earnings results on Thursday, July 23rd. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.91). Carter Bankshares had a net margin of 33.60% and a return on equity of 7.51%. The business had revenue of $90.22 million for the quarter, compared to analysts’ expectations of $55.90 million. On average, equities research analysts forecast that Carter Bankshares will post 1.91 EPS for the current fiscal year.

Carter Bankshares Company Profile

Carter Bankshares, Inc is a bank holding company headquartered in Suffolk, Virginia, operating primarily through its subsidiary, Carter Bank & Trust. The company offers a full range of commercial and retail banking services, serving individuals, small and mid-sized businesses, and nonprofit organizations. Its financial products are designed to meet the needs of local customers across southeastern Virginia and northeastern North Carolina.

Carter Bank & Trust provides deposit accounts, including checking, savings and money market products, as well as certificates of deposit.