Mendon Capital Advisors Corp Invests $1.13 Million in Carter Bankshares, Inc. (NASDAQ:CARE)

Mendon Capital Advisors Corp bought a new stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 64,117 shares of the company's stock, valued at approximately $1,128,000. Mendon Capital Advisors Corp owned approximately 0.28% of Carter Bankshares as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of CARE. Global Retirement Partners LLC purchased a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $77,000. SG Americas Securities LLC lifted its position in Carter Bankshares by 23.6% during the fourth quarter. SG Americas Securities LLC now owns 9,838 shares of the company's stock valued at $173,000 after purchasing an additional 1,879 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Carter Bankshares by 6.4% in the 4th quarter. MetLife Investment Management LLC now owns 12,711 shares of the company's stock worth $224,000 after buying an additional 765 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Carter Bankshares in the 4th quarter worth about $227,000. Finally, Curi RMB Capital LLC purchased a new position in shares of Carter Bankshares in the 4th quarter worth approximately $248,000. 41.48% of the stock is currently owned by institutional investors.

Carter Bankshares Trading Down 2.4 %

NASDAQ:CARE traded down $0.38 during midday trading on Friday, hitting $15.31. 41,551 shares of the company traded hands, compared to its average volume of 75,081. The firm has a market capitalization of $354.14 million, a P/E ratio of 14.44 and a beta of 0.63. The firm's fifty day moving average is $16.00 and its 200-day moving average is $17.40. Carter Bankshares, Inc. has a 12-month low of $11.65 and a 12-month high of $20.40. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $37.22 million during the quarter, compared to analyst estimates of $34.90 million. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. On average, sell-side analysts predict 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.