Fourthstone LLC Buys 276,532 Shares of Carter Bankshares, Inc. (NASDAQ:CARE)

Fourthstone LLC increased its position in shares of Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) by 100.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 551,013 shares of the company's stock after purchasing an additional 276,532 shares during the period. Carter Bankshares accounts for about 1.9% of Fourthstone LLC's investment portfolio, making the stock its 14th largest holding. Fourthstone LLC owned 2.39% of Carter Bankshares worth $9,692,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Stifel Financial Corp grew its holdings in shares of Carter Bankshares by 58.9% during the third quarter. Stifel Financial Corp now owns 45,067 shares of the company's stock valued at $784,000 after buying an additional 16,706 shares in the last quarter. State Street Corp raised its holdings in shares of Carter Bankshares by 4.1% in the 3rd quarter. State Street Corp now owns 496,603 shares of the company's stock worth $8,636,000 after buying an additional 19,751 shares in the last quarter. Barclays PLC raised its stake in shares of Carter Bankshares by 256.8% in the third quarter. Barclays PLC now owns 29,813 shares of the company's stock valued at $519,000 after acquiring an additional 21,457 shares during the last quarter. Geode Capital Management LLC grew its holdings in Carter Bankshares by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 523,591 shares of the company's stock worth $9,107,000 after acquiring an additional 18,109 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Carter Bankshares by 195.8% in the third quarter. JPMorgan Chase & Co. now owns 61,879 shares of the company's stock worth $1,076,000 after purchasing an additional 40,962 shares during the period. 41.48% of the stock is owned by institutional investors and hedge funds.

Carter Bankshares Trading Up 3.3 %

Shares of NASDAQ CARE traded up $0.49 during midday trading on Tuesday, reaching $15.27. 11,567 shares of the stock were exchanged, compared to its average volume of 75,578. The business has a 50-day simple moving average of $16.15 and a two-hundred day simple moving average of $17.44. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89. Carter Bankshares, Inc. has a 12 month low of $11.41 and a 12 month high of $20.40. The company has a market capitalization of $353.21 million, a price-to-earnings ratio of 14.42 and a beta of 0.63.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.16. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. As a group, equities research analysts expect 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.