Carter Bankshares (NASDAQ:CARE) Hits New 52-Week High – Still a Buy?

Carter Bankshares, Inc. (NASDAQ:CARE)’s stock price hit a new 52-week high on Friday . The company traded as high as $35.14 and last traded at $34.9850, with a volume of 104293 shares. The stock had previously closed at $33.90.

Carter Bankshares News Roundup

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

Several research firms have weighed in on CARE. Freedom Capital cut shares of Carter Bankshares from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings raised Carter Bankshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. 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 research note on Wednesday, June 3rd. Raymond James Financial downgraded Carter Bankshares from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen raised shares of Carter Bankshares from a “hold” rating to a “buy” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $28.50.

Carter Bankshares Stock Performance

The company has a 50-day moving average of $30.60 and a 200 day moving average of $25.15. The firm has a market cap of $755.70 million, a P/E ratio of 5.85 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 analysts’ consensus estimates of $1.44 by ($0.91). Carter Bankshares had a return on equity of 7.85% and a net margin of 36.79%.The company had revenue of $90.22 million for the quarter, compared to analyst estimates of $55.90 million. Sell-side analysts anticipate that Carter Bankshares, Inc. will post 1.91 EPS for the current fiscal year.

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. The ex-dividend date is Monday, August 10th. This represents a $0.40 annualized dividend and a yield of 1.2%. Carter Bankshares’s dividend payout ratio (DPR) is 6.88%.

Insider Buying and Selling at Carter Bankshares

In related news, Director Elizabeth L. Walsh acquired 4,575 shares of the stock in a transaction dated Wednesday, May 6th. The stock was bought at an average price of $26.20 per share, with a total value of $119,865.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bradford N. Langs sold 5,500 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $26.47, for a total transaction of $145,585.00. Following the completion of the transaction, the insider directly owned 27,093 shares of the company’s stock, valued at approximately $717,151.71. The trade was a 16.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.38% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Federated Hermes Inc. lifted its stake in Carter Bankshares by 98.3% in the 4th quarter. Federated Hermes Inc. now owns 1,626 shares of the company’s stock valued at $32,000 after acquiring an additional 806 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Carter Bankshares by 140.6% in the second quarter. Geneos Wealth Management Inc. now owns 2,625 shares of the company’s stock valued at $46,000 after purchasing an additional 1,534 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Carter Bankshares by 397.0% in the first quarter. PNC Financial Services Group Inc. now owns 2,311 shares of the company’s stock worth $54,000 after purchasing an additional 1,846 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Carter Bankshares by 243.2% during the fourth quarter. State of Alaska Department of Revenue now owns 3,233 shares of the company’s stock worth $63,000 after purchasing an additional 2,291 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Carter Bankshares by 113.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company’s stock worth $65,000 after purchasing an additional 2,008 shares during the last quarter. 41.48% of the stock is currently owned by institutional investors.

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.