Carter Bank and Trust slips as Raymond James downgrades on litigation risks

Carter Bankshares

08/07/2021 14:54

** Shares of the state-chartered community bank  CARE.O 
opens 3.5% lower at over four-month low of $11.28
    ** Raymond James downgrades to "market perform" from
"outperform" 
    ** "We believe the company's outstanding litigation creates
headline risk nearer-term" - Raymond James
    ** West Virginia Governor James C. Justice sued CARE over
millions of dollars in loans, the company said in a filing https://d18rn0p25nwr6d.cloudfront.net/CIK-0001829576/15ba56de-fd99-4560-acfa-16f474957a4c.html
 in June
    ** Stock extends losses to third straight session 
    ** Stock up ~8% YTD, including session's losses

 (Reporting by Susan Mathew)
 ((susan.mathew@thomsonreuters.com))