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Carter bankshares inc   (CARE)
Other Ticker:  
 
    Sector  Financial    Industry Commercial Banks
   Industry Commercial Banks
   Sector  Financial
 
Price: $12.5500 $0.13 1.047%
Day's High: $12.72 Week Perf: -3.91 %
Day's Low: $ 12.32 30 Day Perf: -8.93 %
Volume (M): 126 52 Wk High: $ 16.74
Volume (M$): $ 1,584 52 Wk Avg: $13.74
Open: $12.32 52 Wk Low: $10.43



 Market Capitalization (Millions $) 293
 Shares Outstanding (Millions) 23
 Employees 835
 Revenues (TTM) (Millions $) 134
 Net Income (TTM) (Millions $) 23
 Cash Flow (TTM) (Millions $) 8
 Capital Exp. (TTM) (Millions $) 10

Carter Bankshares Inc
Carter Bankshares Inc. is a bank holding company headquartered in Martinsville, Virginia. It was established in 2006 and is publicly traded on the NASDAQ Stock Exchange under the ticker symbol CARE. The Company operates as a community bank and serves its customers through a network of 106 branches in Virginia and North Carolina.

Carter Bankshares has a wide array of financial products and services, including personal and commercial banking, loans, mortgages, investments, and insurance. The Bank's personal banking services include checking and savings accounts, credit cards, overdraft protection, and online banking. For businesses, the Bank offers a range of services such as corporate banking, business loans, leasing, and merchant services.

The Bank operates on the philosophy of providing personalized attention to customers, and its offerings are customized to the unique needs of each local market. The Bank strives to cater to the banking needs of its customers and provide them with the necessary resources to achieve their financial goals.

One of the key strengths of Carter Bankshares is its strong financial performance. The Company has consistently generated strong revenue growth and profits since its inception, and its balance sheet remains stable. Additionally, the Bank's credit quality is strong, with a low level of non-performing loans and a high level of loan loss reserves.

Carter Bankshares is also committed to community service and gives back to the communities where it operates. The Bank has made significant donations to schools, community organizations, and disaster relief efforts.

In summary, Carter Bankshares is a community-oriented bank that provides a wide range of financial services and products to its customers. The Bank is known for its personalized service and strong financial performance, and it is dedicated to giving back to the communities where it operates.


   Company Address: 1300 Kings Mountain Road, Martinsville, 24112 VA
   Company Phone Number: 656-1776   Stock Exchange / Ticker: NASDAQ CARE
   


   

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Carter Bankshares Inc

Carter Bankshares Inc Faces Financial Setback, Enters Deficit at CARE for Q4 2023

Carter Bankshares Inc, a commercial bank company, recently released their disappointing fourth-quarter financial report for 2023, which showed a significant decline in revenue and net income compared to the prior year. The company reported a -41.786% decrease in revenue, dropping to $27.18 million, and a net loss per share of $-0.08, in contrast to the $0.65 profit per share recorded in the same period the year before.
Comparing to the prior quarter, Carter Bankshares Inc saw a decrease in income per share, falling from $0.16 per share, and a further -14.219% deterioration in revenue from $31.69 million. For the period from October to December 31, 2023, the company logged a net shortfall of $-1.888 million, a significant difference from the net proceeds of $15.609 million achieved in the corresponding quarter the year before.

Carter Bankshares Inc

Impressive Growth Propels CARE to Exceptional Quarter for Carter Bankshares Inc

Carter Bankshares Inc. recently reported a significant decline in revenue for the most recent fiscal period. With a contraction of -26.098%, the company's income fell by -72.88% compared to the previous year. The company posted a revenue of $31.69 million, a decrease from $42.88 million a year ago. Similarly, earnings per share (EPS) dropped to $0.16 per share, down from $0.59 in the preceding year.
This decline in revenue and income stands in stark contrast to the growth seen in the commercial banks sector, which experienced a 4.44% increase in revenue relative to the third quarter of 2022 in the third quarter of 2023. While revenue for Carter Bankshares Inc. saw a slight surge of 1.262% from $31.29 million in the previous quarter, income faded by -33.33%, falling from $0.24 to $0.16 per share.

Carter Bankshares Inc

Commercial Banks Co. Hit By Severe Revenue Decline in Q2 2023 - Signals Potential Financial Crisis

Carter Bankshares Inc, a financial institution based in the United States, recently announced disappointing financial results for the most recent fiscal period. The company's earnings per share (EPS) experienced a significant decline of -45.45%, and its revenue also dropped by -13.024% year on year. In comparison to the second quarter of 2022, revenue decreased from $35.98 million to $31.29 million, while EPS fell from $0.44 to $0.24.
The decline in profitability is evident when comparing the current period to previous quarters. The company's profit decreased by -64.18% from $0.67 per share, and revenue fell by -28.911% from $44.02 million. The fiscal second quarter of 2023 saw earnings of $5.704 million, a decline of -47.08% from $10.778 million in the same period the previous year.

Carter Bankshares Inc

Carter Bankshares Inc Continues to Experience Strong Growth with Sharp Top-line Increase in First Quarter of 2023

Carter Bankshares Inc has released its financial results for the first quarter of 2023, revealing several positive developments in its financial performance. The company's return on assets (ROA) in the first quarter of 2023 was 4.9%, which is significantly above the average ROA of 0.99% for banks tracked by CARE. This represents a significant improvement compared to the fourth quarter of 2022, when the company's ROA was 2.39%, due to growth in net income.
While there were 123 other companies in the financial services sector that reported higher ROAs, Carter Bankshares Inc improved its overall ranking to 710 in the first quarter of 2023, up from 2,390 in the previous reporting period. The company's income per share in the first quarter of 2023 also advanced significantly to $0.67 per share, an increase of 86.11% from the same quarter the previous year, driven by a strong revenue growth of 32.741% to $44.02 million.






 

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