Barclays PLC Buys 21,457 Shares of Carter Bankshares, Inc. (NASDAQ:CARE)

Barclays PLC boosted its position in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) by 256.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,813 shares of the company's stock after buying an additional 21,457 shares during the period. Barclays PLC owned approximately 0.13% of Carter Bankshares worth $519,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Carter Bankshares during the third quarter worth approximately $138,000. Semanteon Capital Management LP acquired a new position in Carter Bankshares during the third quarter worth $196,000. XTX Topco Ltd bought a new position in shares of Carter Bankshares in the second quarter valued at $239,000. Truist Financial Corp lifted its stake in shares of Carter Bankshares by 43.5% in the second quarter. Truist Financial Corp now owns 17,790 shares of the company's stock valued at $269,000 after buying an additional 5,394 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Carter Bankshares during the third quarter valued at about $279,000. 41.48% of the stock is owned by institutional investors and hedge funds.

Carter Bankshares Stock Performance

Carter Bankshares stock remained flat at $17.36 during trading on Friday. The company had a trading volume of 78,318 shares, compared to its average volume of 62,153. The company has a market capitalization of $400.50 million, a P/E ratio of 28.00 and a beta of 1.00. The firm has a 50 day simple moving average of $18.20 and a 200 day simple moving average of $17.41. Carter Bankshares, Inc. has a 1-year low of $10.95 and a 1-year high of $20.40. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89.

Wall Street Analyst Weigh In

Separately, Hovde Group assumed coverage on shares of Carter Bankshares in a research report on Wednesday, October 2nd. They issued an "outperform" rating and a $22.00 price target on the stock.

Carter Bankshares Company 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.