Basswood Capital Management L.L.C. bought a new stake in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 40,576 shares of the company's stock, valued at approximately $706,000. Basswood Capital Management L.L.C. owned about 0.18% of Carter Bankshares at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the business. Fourthstone LLC increased its holdings in Carter Bankshares by 205.3% in the third quarter. Fourthstone LLC now owns 274,481 shares of the company's stock valued at $4,773,000 after buying an additional 184,565 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Carter Bankshares in the third quarter valued at $279,000. Empowered Funds LLC boosted its stake in Carter Bankshares by 5.3% in the third quarter. Empowered Funds LLC now owns 80,475 shares of the company's stock valued at $1,399,000 after acquiring an additional 4,020 shares in the last quarter. Semanteon Capital Management LP acquired a new position in Carter Bankshares in the third quarter valued at $196,000. Finally, SG Americas Securities LLC acquired a new position in Carter Bankshares in the third quarter valued at $138,000. Hedge funds and other institutional investors own 41.48% of the company's stock.
Carter Bankshares Stock Performance
Shares of CARE traded up $0.06 during mid-day trading on Monday, hitting $18.74. 16,561 shares of the company's stock were exchanged, compared to its average volume of 71,373. Carter Bankshares, Inc. has a fifty-two week low of $10.95 and a fifty-two week high of $20.40. The firm has a market capitalization of $432.33 million, a P/E ratio of 30.13 and a beta of 1.02. The business's 50 day moving average is $18.31 and its two-hundred day moving average is $16.25. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on CARE. Raymond James upped their price objective on shares of Carter Bankshares from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Thursday, August 29th. Hovde Group began coverage on shares of Carter Bankshares in a research note on Wednesday, October 2nd. They issued an "outperform" rating and a $22.00 price objective for the company.
View Our Latest Stock Analysis on CARE
About Carter Bankshares
(
Free Report)
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.
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