Carter Bankshares (NASDAQ:CARE) Issues Earnings Results

Carter Bankshares (NASDAQ:CARE) announced its quarterly earnings data on Thursday. The company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.91), FiscalAI reports. Carter Bankshares had a net margin of 36.79% and a return on equity of 7.85%. The firm had revenue of $90.22 million during the quarter, compared to analysts’ expectations of $55.90 million.

Carter Bankshares Price Performance

Carter Bankshares stock opened at $34.01 on Friday. The firm has a 50 day simple moving average of $30.60 and a 200-day simple moving average of $25.15. The stock has a market cap of $755.77 million, a price-to-earnings ratio of 5.85 and a beta of 0.51. Carter Bankshares has a 1-year low of $16.78 and a 1-year high of $35.14.

Carter Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 10th. Carter Bankshares’s payout ratio is presently 6.88%.

Carter Bankshares News Summary

Here are the key news stories impacting Carter Bankshares this week:

• Positive Sentiment: Carter Bankshares reported second-quarter net income of $28.9 million, or $1.31 diluted EPS, and net interest income rose to $40.0 million from $35.9 million in Q1 and $32.4 million a year ago, signaling improved core banking profitability. Article: Carter Bankshares, Inc. Announces Second Quarter 2026 Financial Results
• Positive Sentiment: The company declared a quarterly cash dividend of $0.10 per share, which should appeal to income-focused investors and reinforces management’s confidence in capital generation. Article: Carter Bankshares, Inc. Declares Quarterly Dividend
• Positive Sentiment: Quarterly earnings of $0.53 per share beat the Zacks consensus estimate of $0.41, suggesting results were better than some market expectations. Article: Carter Bankshares, Inc. (CARE) Q2 Earnings and Revenues Top Estimates
• Neutral Sentiment: Short interest was reported at zero shares, so the latest data does not indicate meaningful bearish positioning in the stock.
• Negative Sentiment: Reported EPS of $0.53 missed the much higher analyst estimate of $1.18 in one earnings summary, which may temper enthusiasm despite the revenue beat. Article: Carter Bankshares earnings and stock data

Analysts Set New Price Targets

CARE has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Carter Bankshares from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Carter Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Raymond James Financial cut shares of Carter Bankshares from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 1st. Freedom Capital lowered shares of Carter Bankshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 15th. Finally, Hovde Group cut Carter Bankshares from an “outperform” rating to a “market perform” rating and set a $30.00 target price on the stock. in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.50.

Insider Buying and Selling

In other Carter Bankshares news, Director Elizabeth L. Walsh acquired 4,575 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $26.20 per share, with a total value of $119,865.00. Following the completion of the acquisition, the director directly owned 58,753 shares of the company’s stock, valued at approximately $1,539,328.60. The trade was a 8.44% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Bradford N. Langs sold 5,500 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $26.47, for a total value of $145,585.00. Following the completion of the transaction, the insider owned 27,093 shares of the company’s stock, valued at $717,151.71. The trade was a 16.87% decrease in their position. The SEC filing for this sale provides additional information. 2.38% of the stock is owned by insiders.

Hedge Funds Weigh In On Carter Bankshares

A number of institutional investors and hedge funds have recently made changes to their positions in CARE. Fourthstone LLC lifted its stake in shares of Carter Bankshares by 19.1% in the fourth quarter. Fourthstone LLC now owns 1,236,393 shares of the company’s stock valued at $24,307,000 after purchasing an additional 197,850 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Carter Bankshares by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,130,055 shares of the company’s stock worth $21,934,000 after buying an additional 24,621 shares in the last quarter. Kennedy Capital Management LLC grew its position in Carter Bankshares by 12.9% during the third quarter. Kennedy Capital Management LLC now owns 441,076 shares of the company’s stock worth $8,561,000 after buying an additional 50,519 shares during the period. Goldman Sachs Group Inc. grew its position in Carter Bankshares by 11.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 300,553 shares of the company’s stock worth $5,909,000 after buying an additional 29,924 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in Carter Bankshares by 5.9% in the second quarter. Bridgeway Capital Management LLC now owns 160,113 shares of the company’s stock valued at $2,776,000 after buying an additional 8,903 shares in the last quarter. 41.48% of the stock is owned by institutional investors and hedge funds.

About Carter Bankshares

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.