CARE Stock Summary and Trading Ideas (Carter Bankshares | NASDAQ:CARE)

Carter Bankshares Inc is a bank holding company that conducts its business solely through the bank. The Bank earns revenue from interest on loans and securities and fees charged for financial services provided to customers. The Bank offers a full range of deposit services including Lifetime Free Checking, interest checking accounts, savings accounts, retirement accounts and other deposit accounts of various types, ranging from money market accounts to longer-term CDs. The Bank offers a full range of commercial and consumer loans. The Bank also originates and holds fixed and variable-rate mortgage loans and offers home equity lines of credit to its customers.

Carter Bankshares trades on the NASDAQ stock market under the symbol CARE.

As of April 19, 2024, CARE stock price climbed to $11.43 with 73,188 million shares trading.

CARE has a beta of 0.93, meaning it tends to be less sensitive to market movements. CARE has a correlation of 0.14 to the broad based SPY ETF.

CARE has a market cap of $263.14 million. This is considered a Small Cap stock.

Last quarter Carter Bankshares reported $31 million in Revenue and -$.02 earnings per share. This fell short of revenue expectation by $-2 million and missed earnings estimates by -$.19.

In the last 3 years, CARE stock traded as high as $18.84 and as low as $10.02.

The top ETF exchange traded funds that CARE belongs to (by Net Assets): VTI, IWM, VXF, AVUV, IWN.

CARE has underperformed the market in the last year with a price return of -13.9% while the SPY ETF gained +21.2%. CARE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -17.5% and -5.1%, respectively, while the SPY returned +4.3% and -3.5%, respectively.

CARE support price is $10.86 and resistance is $11.38 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CARE stock will trade within this expected range on the day.