JPMorgan Chase & Co. Has $2.19 Million Stake in Carter Bankshares, Inc. (NASDAQ:CARE)

JPMorgan Chase & Co. grew its stake in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) by 101.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 124,453 shares of the company's stock after acquiring an additional 62,574 shares during the period. JPMorgan Chase & Co. owned 0.54% of Carter Bankshares worth $2,189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of CARE. Global Retirement Partners LLC bought a new stake in shares of Carter Bankshares during the fourth quarter worth approximately $77,000. SG Americas Securities LLC boosted its holdings in Carter Bankshares by 23.6% during the fourth quarter. SG Americas Securities LLC now owns 9,838 shares of the company's stock worth $173,000 after purchasing an additional 1,879 shares during the last quarter. Prudential Financial Inc. acquired a new position in Carter Bankshares during the fourth quarter worth $227,000. Proficio Capital Partners LLC bought a new stake in Carter Bankshares during the fourth quarter worth $335,000. Finally, Barclays PLC lifted its stake in Carter Bankshares by 256.8% in the 3rd quarter. Barclays PLC now owns 29,813 shares of the company's stock valued at $519,000 after purchasing an additional 21,457 shares during the last quarter. 41.48% of the stock is owned by institutional investors.

Carter Bankshares Stock Performance

Carter Bankshares stock traded up $0.14 during midday trading on Tuesday, reaching $15.57. 43,281 shares of the company's stock were exchanged, compared to its average volume of 74,929. Carter Bankshares, Inc. has a 52 week low of $11.96 and a 52 week high of $20.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market cap of $360.15 million, a price-to-earnings ratio of 14.69 and a beta of 0.63. The stock's 50-day simple moving average is $15.87 and its 200 day simple moving average is $17.36.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. The company had revenue of $37.22 million during the quarter, compared to analysts' expectations of $34.90 million. On average, analysts expect that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal 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.