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Has Carter Bankshares (CARE) Outpaced Other Finance Stocks This Year?

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For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Carter Bankshares, Inc. (CARE - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question.

Carter Bankshares, Inc. is one of 894 companies in the Finance group. The Finance group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Carter Bankshares, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for CARE's full-year earnings has moved 8.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, CARE has returned 6.3% so far this year. Meanwhile, the Finance sector has returned an average of -10.4% on a year-to-date basis. As we can see, Carter Bankshares, Inc. is performing better than its sector in the calendar year.

Another Finance stock, which has outperformed the sector so far this year, is CF Bankshares Inc. (CFBK - Free Report) . The stock has returned 2.9% year-to-date.

For CF Bankshares Inc. the consensus EPS estimate for the current year has increased 23% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Carter Bankshares, Inc. belongs to the Banks - Northeast industry, a group that includes 88 individual stocks and currently sits at #27 in the Zacks Industry Rank. This group has lost an average of 10.9% so far this year, so CARE is performing better in this area. CF Bankshares Inc. is also part of the same industry.

Carter Bankshares, Inc. and CF Bankshares Inc. could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.


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