Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 631,200 shares, a growth of 7.9% from the September 30th total of 585,000 shares. Based on an average daily trading volume, of 70,300 shares, the days-to-cover ratio is presently 9.0 days. Currently, 2.8% of the shares of the stock are short sold.
Carter Bankshares Stock Up 0.7 %
Shares of NASDAQ:CARE traded up $0.13 during mid-day trading on Wednesday, hitting $18.60. 64,477 shares of the company traded hands, compared to its average volume of 70,203. The firm has a market cap of $429.16 million, a P/E ratio of 32.86 and a beta of 1.03. The firm's 50 day simple moving average is $17.49 and its 200 day simple moving average is $15.17. Carter Bankshares has a 52-week low of $10.91 and a 52-week high of $19.00. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.91 and a current ratio of 0.91.
Analyst Ratings Changes
A number of analysts recently commented on the stock. Hovde Group started coverage on shares of Carter Bankshares in a report on Wednesday, October 2nd. They set an "outperform" rating and a $22.00 price objective on the stock. Raymond James lifted their price target on shares of Carter Bankshares from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Thursday, August 29th.
View Our Latest Stock Analysis on CARE
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in CARE. Truist Financial Corp grew its holdings in shares of Carter Bankshares by 43.5% during the second quarter. Truist Financial Corp now owns 17,790 shares of the company's stock valued at $269,000 after purchasing an additional 5,394 shares during the last quarter. Mendon Capital Advisors Corp acquired a new stake in Carter Bankshares in the 2nd quarter valued at about $454,000. Vanguard Group Inc. grew its stake in shares of Carter Bankshares by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 1,245,205 shares of the company's stock worth $15,739,000 after purchasing an additional 17,327 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Carter Bankshares by 8.2% in the second quarter. American Century Companies Inc. now owns 337,743 shares of the company's stock valued at $5,107,000 after buying an additional 25,472 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Carter Bankshares during the second quarter valued at $239,000. 41.48% of the stock is currently owned by institutional investors.
About Carter Bankshares
(
Get 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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