Strs Ohio Makes New Investment in Carter Bankshares, Inc. $CARE

Key Points

• Strs Ohio has acquired a new stake in Carter Bankshares, Inc. with the purchase of 21,000 shares valued at approximately $340,000 in the 1st quarter.
• Other institutional investors, including Acadian Asset Management and Mendon Capital Advisors, have also increased their holdings in Carter Bankshares during the same period.
• Carter Bankshares reported earnings of $0.41 per share for the most recent quarter, surpassing analysts' expectations of $0.31 per share, with revenues reaching $37.44 million.

Strs Ohio acquired a new stake in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,000 shares of the company's stock, valued at approximately $340,000. Strs Ohio owned 0.09% of Carter Bankshares at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CARE. Acadian Asset Management LLC boosted its stake in Carter Bankshares by 7.6% during the 1st quarter. Acadian Asset Management LLC now owns 82,105 shares of the company's stock worth $1,327,000 after purchasing an additional 5,797 shares during the period. Mendon Capital Advisors Corp raised its holdings in shares of Carter Bankshares by 7.8% in the first quarter. Mendon Capital Advisors Corp now owns 69,117 shares of the company's stock valued at $1,118,000 after buying an additional 5,000 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Carter Bankshares during the first quarter worth about $585,000. Empowered Funds LLC grew its holdings in shares of Carter Bankshares by 7.3% during the first quarter. Empowered Funds LLC now owns 90,725 shares of the company's stock worth $1,468,000 after buying an additional 6,157 shares during the last quarter. Finally, Curi RMB Capital LLC increased its position in Carter Bankshares by 35.4% in the 1st quarter. Curi RMB Capital LLC now owns 19,117 shares of the company's stock valued at $309,000 after acquiring an additional 5,000 shares during the period. 41.48% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Carter Bankshares

In other Carter Bankshares news, Director Catharine L. Midkiff sold 2,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $17.76, for a total transaction of $35,520.00. Following the completion of the transaction, the director owned 16,054 shares in the company, valued at approximately $285,119.04. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.86% of the company's stock.

Carter Bankshares Stock Up 0.2%

CARE opened at $19.74 on Wednesday. Carter Bankshares, Inc. has a 52 week low of $13.60 and a 52 week high of $20.53. The business has a 50 day moving average price of $18.70 and a two-hundred day moving average price of $17.05. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.28. The company has a market cap of $447.51 million, a PE ratio of 14.51 and a beta of 0.86.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last released its 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 return on equity of 7.68% and a net margin of 12.58%.The business had revenue of $37.44 million for the quarter, compared to analyst estimates of $37.33 million. As a group, research analysts anticipate 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.

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