Alliancebernstein L.P. Cuts Stock Holdings in Carter Bankshares, Inc. (NASDAQ:CARE)

Alliancebernstein L.P. lowered its holdings in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) by 75.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,662 shares of the company's stock after selling 682,247 shares during the quarter. Alliancebernstein L.P. owned 0.94% of Carter Bankshares worth $3,829,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Global Retirement Partners LLC purchased a new stake in shares of Carter Bankshares during the 4th quarter valued at about $77,000. SG Americas Securities LLC raised its stake in Carter Bankshares by 23.6% during the 4th quarter. SG Americas Securities LLC now owns 9,838 shares of the company's stock valued at $173,000 after buying an additional 1,879 shares during the last quarter. Prudential Financial Inc. purchased a new position in shares of Carter Bankshares in the 4th quarter worth $227,000. Partners in Financial Planning purchased a new stake in Carter Bankshares during the fourth quarter valued at $256,000. Finally, Proficio Capital Partners LLC bought a new position in Carter Bankshares in the fourth quarter valued at about $335,000. 41.48% of the stock is owned by hedge funds and other institutional investors.

Carter Bankshares Stock Performance

Shares of Carter Bankshares stock traded up $0.14 during trading hours on Friday, reaching $14.82. 52,874 shares of the stock traded hands, compared to its average volume of 75,903. The company has a 50 day moving average price of $16.21 and a 200 day moving average price of $17.45. Carter Bankshares, Inc. has a one year low of $11.41 and a one year high of $20.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $342.80 million, a price-to-earnings ratio of 13.98 and a beta of 0.63.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last announced its earnings results on Thursday, January 23rd. The company reported $0.37 EPS for the quarter, beating 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%. On average, equities research analysts expect that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal year.

About Carter Bankshares

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.