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Carter Bankshares ( (CARE) ) just unveiled an announcement.
On May 27, 2025, Carter Bankshares, Inc. announced the completion of its acquisition of deposits from two First Reliance Bank branches in Mooresville and Winston-Salem, North Carolina. This strategic move marks the Bank’s entry into the Winston-Salem market and expands its presence near Charlotte, reflecting its commitment to growth and service in North Carolina. The acquisition involved $55.9 million in deposits and the addition of 10 new associates, although no loans were acquired. The branches were converted and opened as Carter Bank branches immediately following the transaction, highlighting the Bank’s dedication to seamless transitions and strengthening its market position in the region.
The most recent analyst rating on (CARE) stock is a Hold with a $13.00 price target. To see the full list of analyst forecasts on Carter Bankshares stock, see the CARE Stock Forecast page.
Spark’s Take on CARE Stock
According to Spark, TipRanks’ AI Analyst, CARE is a Neutral.
Carter Bankshares scores 63, driven by strong financial performance and a strategic rebranding effort. While financials reveal robust revenue growth and a debt-free balance sheet, cash flow growth remains a challenge. Technically, the stock is in a bearish phase, though valuation appears reasonable. The recent corporate event boosts future growth potential. Focus on cash flow improvement and market momentum could enhance the outlook.
To see Spark’s full report on CARE stock, click here.
More about Carter Bankshares
Carter Bankshares, Inc., headquartered in Martinsville, Virginia, is a state-chartered community bank with $4.7 billion in assets. It operates branches in Virginia and North Carolina, focusing on creating opportunities for individuals and businesses since 1974.
Average Trading Volume: 67,043
Technical Sentiment Signal: Buy
Current Market Cap: $370.5M
Learn more about CARE stock on TipRanks’ Stock Analysis page.