Mendon Capital Advisors Corp Makes New $1.13 Million Investment in Carter Bankshares, Inc. (NASDAQ:CARE)

Mendon Capital Advisors Corp purchased a new stake in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 64,117 shares of the company's stock, valued at approximately $1,128,000. Mendon Capital Advisors Corp owned about 0.28% of Carter Bankshares as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in 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. Fourthstone LLC increased its stake in shares of Carter Bankshares by 100.7% in the fourth quarter. Fourthstone LLC now owns 551,013 shares of the company's stock valued at $9,692,000 after buying an additional 276,532 shares during the period. Geode Capital Management LLC increased its stake in shares of Carter Bankshares by 3.6% in the third quarter. Geode Capital Management LLC now owns 523,591 shares of the company's stock valued at $9,107,000 after buying an additional 18,109 shares during the period. State Street Corp raised its holdings in Carter Bankshares by 4.1% in the 3rd quarter. State Street Corp now owns 496,603 shares of the company's stock valued at $8,636,000 after buying an additional 19,751 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Carter Bankshares by 1.3% during the 4th quarter. American Century Companies Inc. now owns 343,193 shares of the company's stock worth $6,037,000 after buying an additional 4,238 shares during the period. Institutional investors and hedge funds own 41.48% of the company's stock.

Carter Bankshares Trading Down 2.4 %

NASDAQ CARE traded down $0.38 on Friday, hitting $15.31. The company's stock had a trading volume of 41,551 shares, compared to its average volume of 75,114. The company's 50-day moving average is $15.95 and its 200 day moving average is $17.39. The firm has a market cap of $354.14 million, a PE ratio of 14.44 and a beta of 0.63. Carter Bankshares, Inc. has a 1-year low of $11.96 and a 1-year high of $20.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The business had revenue of $37.22 million during the quarter, compared to analyst estimates of $34.90 million. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. As a group, analysts predict that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal year.

About Carter Bankshares

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.