Carter Bankshares, Inc. (NASDAQ:CARE) Short Interest Update

Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 277,900 shares, an increase of 10.2% from the February 29th total of 252,200 shares. Approximately 1.3% of the company's shares are sold short. Based on an average daily volume of 54,200 shares, the days-to-cover ratio is presently 5.1 days.

Institutional Trading of Carter Bankshares

Several institutional investors have recently added to or reduced their stakes in the business. BHZ Capital Management LP purchased a new stake in shares of Carter Bankshares in the 1st quarter worth about $1,221,000. Dimensional Fund Advisors LP raised its position in Carter Bankshares by 12.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 746,350 shares of the company's stock worth $11,173,000 after buying an additional 83,817 shares during the last quarter. Millennium Management LLC purchased a new stake in Carter Bankshares during the 2nd quarter valued at $959,000. American Century Companies Inc. grew its stake in shares of Carter Bankshares by 135.0% during the 4th quarter. American Century Companies Inc. now owns 116,745 shares of the company's stock valued at $1,937,000 after purchasing an additional 67,059 shares during the period. Finally, First Trust Advisors LP raised its position in Carter Bankshares by 609.7% in the third quarter. First Trust Advisors LP now owns 73,979 shares of the company's stock worth $1,191,000 after acquiring an additional 63,555 shares during the period. 41.48% of the stock is currently owned by hedge funds and other institutional investors.

Carter Bankshares Stock Down 1.1 %

Shares of NASDAQ CARE traded down $0.13 during trading on Tuesday, hitting $12.24. 71,275 shares of the company traded hands, compared to its average volume of 55,838. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Carter Bankshares has a fifty-two week low of $10.43 and a fifty-two week high of $16.74. The business's fifty day moving average is $13.38 and its 200 day moving average is $13.10. The firm has a market capitalization of $281.76 million, a price-to-earnings ratio of 12.36 and a beta of 0.94.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last released its earnings results on Thursday, January 25th. The company reported ($0.02) earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.19). Carter Bankshares had a net margin of 10.89% and a return on equity of 7.49%. The company had revenue of $30.67 million for the quarter, compared to the consensus estimate of $32.62 million. Equities research analysts predict that Carter Bankshares will post 1.83 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.

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