Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) was the target of a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 249,900 shares, a decline of 10.1% from the March 15th total of 277,900 shares. Currently, 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 56,000 shares, the short-interest ratio is presently 4.5 days.
Carter Bankshares Price Performance
Shares of CARE stock traded down $0.13 during trading on Monday, hitting $11.33. The company had a trading volume of 42,224 shares, compared to its average volume of 56,024. Carter Bankshares has a one year low of $10.43 and a one year high of $16.74. The firm has a market capitalization of $260.84 million, a P/E ratio of 11.44 and a beta of 0.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The stock's 50-day moving average price is $12.92 and its 200 day moving average price is $13.04.
Carter Bankshares (NASDAQ:CARE - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.19). The company had revenue of $30.67 million for the quarter, compared to analyst estimates of $32.62 million. Carter Bankshares had a return on equity of 7.49% and a net margin of 10.89%. Equities analysts expect that Carter Bankshares will post 1.83 EPS for the current fiscal year.
Institutional Trading of Carter Bankshares
Several institutional investors have recently modified their holdings of the business. CWM LLC bought a new stake in Carter Bankshares during the fourth quarter valued at $26,000. Tower Research Capital LLC TRC boosted its position in Carter Bankshares by 236.0% during the third quarter. Tower Research Capital LLC TRC now owns 1,660 shares of the company's stock valued at $27,000 after acquiring an additional 1,166 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in Carter Bankshares by 249.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,822 shares of the company's stock valued at $30,000 after acquiring an additional 1,300 shares during the last quarter. Royal Bank of Canada boosted its position in Carter Bankshares by 113.7% during the second quarter. Royal Bank of Canada now owns 2,883 shares of the company's stock valued at $42,000 after acquiring an additional 1,534 shares during the last quarter. Finally, Concord Wealth Partners bought a new stake in Carter Bankshares during the fourth quarter valued at $56,000. Institutional investors own 41.48% of the company's stock.
About Carter Bankshares
(
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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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