Carter Bankshares, Inc. (NASDAQ:CARE) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its position in Carter Bankshares, Inc. (NASDAQ:CARE) by 10.7% during the fourth quarter, Holdings Channel reports. The firm owned 109,852 shares of the company’s stock after buying an additional 10,599 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Carter Bankshares were worth $1,932,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CARE. Geode Capital Management LLC raised its position in Carter Bankshares by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 523,591 shares of the company’s stock valued at $9,107,000 after purchasing an additional 18,109 shares in the last quarter. State Street Corp lifted its holdings in shares of Carter Bankshares by 4.1% in the 3rd quarter. State Street Corp now owns 496,603 shares of the company’s stock valued at $8,636,000 after purchasing an additional 19,751 shares during the last quarter. American Century Companies Inc. lifted its stake in Carter Bankshares by 1.3% in the fourth quarter. American Century Companies Inc. now owns 343,193 shares of the company’s stock valued at $6,037,000 after buying an additional 4,238 shares during the last quarter. JPMorgan Chase & Co. raised its position in Carter Bankshares by 101.1% in the 4th quarter. JPMorgan Chase & Co. now owns 124,453 shares of the company’s stock valued at $2,189,000 after purchasing an additional 62,574 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Carter Bankshares by 5.1% in the fourth quarter. Empowered Funds LLC now owns 84,568 shares of the company’s stock valued at $1,488,000 after buying an additional 4,093 shares during the last quarter. Hedge funds and other institutional investors own 41.48% of the company’s stock.

Carter Bankshares Price Performance

Shares of NASDAQ CARE opened at $14.00 on Friday. Carter Bankshares, Inc. has a 1-year low of $10.95 and a 1-year high of $20.40. The company has a market cap of $323.83 million, a PE ratio of 13.21 and a beta of 0.63. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a fifty day moving average price of $16.61 and a 200 day moving average price of $17.57.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. Sell-side analysts forecast that Carter Bankshares, Inc. will post 1.26 EPS for the current year.

Carter Bankshares Profile

Carter Bankshares, Inc operates as the bank holding company for Carter Bank & Trust that provides various banking products and services in the United States. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as certificates of deposits.