Mackenzie Financial Corp Has $810,000 Holdings in Carter Bankshares, Inc. (NASDAQ:CARE)

Key Points

• Mackenzie Financial Corp increased its stake in Carter Bankshares, acquiring 22,039 shares and raising its ownership to 50,069 shares, equating to a value of approximately $810,000.
• Several large investors, including JPMorgan Chase & Co. and Arrowstreet Capital, also elevated their positions in Carter Bankshares during the fourth quarter, indicating strong institutional interest in the company.
• Carter Bankshares reported earnings of $0.41 per share for the last quarter, surpassing analysts' expectations and reflecting a net margin of 12.58%.

Mackenzie Financial Corp raised its position in shares of Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) by 78.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,069 shares of the company's stock after purchasing an additional 22,039 shares during the period. Mackenzie Financial Corp owned 0.22% of Carter Bankshares worth $810,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourthstone LLC lifted its stake in shares of Carter Bankshares by 100.7% in the 4th quarter. Fourthstone LLC now owns 551,013 shares of the company's stock worth $9,692,000 after acquiring an additional 276,532 shares during the period. Kennedy Capital Management LLC lifted its stake in shares of Carter Bankshares by 27.9% in the 4th quarter. Kennedy Capital Management LLC now owns 324,569 shares of the company's stock worth $5,709,000 after acquiring an additional 70,836 shares during the period. Mendon Capital Advisors Corp bought a new stake in shares of Carter Bankshares in the 4th quarter worth approximately $1,128,000. JPMorgan Chase & Co. raised its holdings in shares of Carter Bankshares by 101.1% in the 4th quarter. JPMorgan Chase & Co. now owns 124,453 shares of the company's stock worth $2,189,000 after purchasing an additional 62,574 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Carter Bankshares by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,988 shares of the company's stock worth $17,871,000 after purchasing an additional 51,987 shares in the last quarter. 41.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Catharine L. Midkiff sold 2,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $17.76, for a total value of $35,520.00. Following the transaction, the director owned 16,054 shares in the company, valued at $285,119.04. This represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin S. Bloomfield sold 1,629 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.81, for a total transaction of $27,383.49. Following the transaction, the director owned 16,418 shares in the company, valued at approximately $275,986.58. This trade represents a 9.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,138 shares of company stock worth $154,769 in the last 90 days. 2.18% of the stock is owned by company insiders.

Carter Bankshares Price Performance

Shares of NASDAQ CARE traded down $0.10 during midday trading on Thursday, reaching $17.09. The company's stock had a trading volume of 76,926 shares, compared to its average volume of 75,480. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average price of $17.34 and a 200 day moving average price of $16.66. Carter Bankshares, Inc. has a one year low of $13.60 and a one year high of $20.40. The company has a market cap of $395.82 million, a price-to-earnings ratio of 12.57 and a beta of 0.82.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.10. Carter Bankshares had a net margin of 12.58% and a return on equity of 7.68%. The business had revenue of $37.44 million for the quarter, compared to analyst estimates of $37.33 million. On average, equities research analysts expect that Carter Bankshares, Inc. will post 1.26 EPS for the current year.

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.