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Carter Bankshares, Inc. (CARE) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended December 2023, Carter Bankshares, Inc. (CARE - Free Report) reported revenue of $30.67 million, down 34.9% over the same period last year. EPS came in at -$0.02, compared to $0.62 in the year-ago quarter.
The reported revenue represents a surprise of -5.98% over the Zacks Consensus Estimate of $32.62 million. With the consensus EPS estimate being $0.17, the EPS surprise was -111.76%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
Efficiency Ratio: 94.8% compared to the 81.1% average estimate based on three analysts.
Net Interest Margin: 2.5% versus 2.5% estimated by three analysts on average.
Net charge-offs to average loans: 0% compared to the 0.1% average estimate based on two analysts.
Total interest-earning assets-Average: $4.40 billion versus $4.34 billion estimated by two analysts on average.
Total Noninterest Income: $3.25 million compared to the $4.94 million average estimate based on three analysts.
Insurance Commissions: $0.40 million versus $0.48 million estimated by two analysts on average.
Debit card interchange fees: $1.89 million versus $1.90 million estimated by two analysts on average.
Bank owned life insurance income: $0.35 million compared to the $0.35 million average estimate based on two analysts.
Service charges, commissions and fees: $1.78 million compared to the $1.78 million average estimate based on two analysts.
Shares of Carter Bankshares, Inc. have returned -6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Carter Bankshares, Inc. (CARE) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended December 2023, Carter Bankshares, Inc. (CARE - Free Report) reported revenue of $30.67 million, down 34.9% over the same period last year. EPS came in at -$0.02, compared to $0.62 in the year-ago quarter.
The reported revenue represents a surprise of -5.98% over the Zacks Consensus Estimate of $32.62 million. With the consensus EPS estimate being $0.17, the EPS surprise was -111.76%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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:
- Efficiency Ratio: 94.8% compared to the 81.1% average estimate based on three analysts.
- Net Interest Margin: 2.5% versus 2.5% estimated by three analysts on average.
- Net charge-offs to average loans: 0% compared to the 0.1% average estimate based on two analysts.
- Total interest-earning assets-Average: $4.40 billion versus $4.34 billion estimated by two analysts on average.
- Total Noninterest Income: $3.25 million compared to the $4.94 million average estimate based on three analysts.
- Insurance Commissions: $0.40 million versus $0.48 million estimated by two analysts on average.
- Debit card interchange fees: $1.89 million versus $1.90 million estimated by two analysts on average.
- Bank owned life insurance income: $0.35 million compared to the $0.35 million average estimate based on two analysts.
- Service charges, commissions and fees: $1.78 million compared to the $1.78 million average estimate based on two analysts.
View all Key Company Metrics for Carter Bankshares, Inc. here>>>Shares of Carter Bankshares, Inc. have returned -6% over the past month versus the Zacks S&P 500 composite's +2.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.