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Carter Bankshares, Inc. (CARE) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Carter Bankshares, Inc. (CARE - Free Report) reported $32.66 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 24%. EPS of $0.20 for the same period compares to $0.59 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $33.19 million, representing a surprise of -1.59%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.20.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carter Bankshares, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin: 2.5% versus the three-analyst average estimate of 2.6%.
Efficiency Ratio: 83.5% versus the three-analyst average estimate of 78.2%.
Net charge-offs to average loans: 0.1% compared to the 0.1% average estimate based on two analysts.
Total interest-earning assets-Average: $4.32 billion compared to the $4.27 billion average estimate based on two analysts.
Total Noninterest Income: $5.27 million versus $4.98 million estimated by three analysts on average.
Bank owned life insurance income: $0.35 million compared to the $0.35 million average estimate based on two analysts.
Debit card interchange fees: $1.90 million versus the two-analyst average estimate of $1.88 million.
Service charges, commissions and fees: $1.78 million versus the two-analyst average estimate of $1.78 million.
Insurance Commissions: $0.87 million compared to the $0.68 million average estimate based on two analysts.
Shares of Carter Bankshares, Inc. have returned -17.1% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Carter Bankshares, Inc. (CARE) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Carter Bankshares, Inc. (CARE - Free Report) reported $32.66 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 24%. EPS of $0.20 for the same period compares to $0.59 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $33.19 million, representing a surprise of -1.59%. The company has not delivered EPS surprise, with the consensus EPS estimate being $0.20.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Carter Bankshares, Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Interest Margin: 2.5% versus the three-analyst average estimate of 2.6%.
- Efficiency Ratio: 83.5% versus the three-analyst average estimate of 78.2%.
- Net charge-offs to average loans: 0.1% compared to the 0.1% average estimate based on two analysts.
- Total interest-earning assets-Average: $4.32 billion compared to the $4.27 billion average estimate based on two analysts.
- Total Noninterest Income: $5.27 million versus $4.98 million estimated by three analysts on average.
- Bank owned life insurance income: $0.35 million compared to the $0.35 million average estimate based on two analysts.
- Debit card interchange fees: $1.90 million versus the two-analyst average estimate of $1.88 million.
- Service charges, commissions and fees: $1.78 million versus the two-analyst average estimate of $1.78 million.
- Insurance Commissions: $0.87 million compared to the $0.68 million average estimate based on two analysts.
View all Key Company Metrics for Carter Bankshares, Inc. here>>>Shares of Carter Bankshares, Inc. have returned -17.1% over the past month versus the Zacks S&P 500 composite's -3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.