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Is Carter Bankshares (CARE) Outperforming Other Finance Stocks This Year?

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The Finance group has plenty of great stocks, but investors should always be looking for companies 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? Let's take a closer look at the stock's year-to-date performance to find out.

Carter Bankshares, Inc. is a member of the Finance sector. This group includes 884 individual stocks and currently holds a Zacks Sector Rank of #3. 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 #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for CARE's full-year earnings has moved 18.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, CARE has returned 9.7% so far this year. Meanwhile, the Finance sector has returned an average of -11.6% on a year-to-date basis. As we can see, Carter Bankshares, Inc. is performing better than its sector in the calendar year.

Another stock in the Finance sector, Cullen/Frost Bankers (CFR - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 6.5%.

For Cullen/Frost Bankers, the consensus EPS estimate for the current year has increased 5.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Carter Bankshares, Inc. is a member of the Banks - Northeast industry, which includes 90 individual companies and currently sits at #11 in the Zacks Industry Rank. This group has lost an average of 13.1% so far this year, so CARE is performing better in this area.

On the other hand, Cullen/Frost Bankers belongs to the Banks - Southwest industry. This 18-stock industry is currently ranked #48. The industry has moved +3.9% year to date.

Investors with an interest in Finance stocks should continue to track Carter Bankshares, Inc. and Cullen/Frost Bankers. These stocks will be looking to continue their solid performance.


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CullenFrost Bankers, Inc. (CFR) - free report >>

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