Carter Bankshares, Inc. (NASDAQ:CARE) Stake Trimmed by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its position in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 17.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,737 shares of the company’s stock after selling 5,600 shares during the quarter. Los Angeles Capital Management LLC owned 0.11% of Carter Bankshares worth $453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Carter Bankshares by 256.8% in the third quarter. Barclays PLC now owns 29,813 shares of the company’s stock worth $519,000 after buying an additional 21,457 shares during the period. JPMorgan Chase & Co. lifted its stake in Carter Bankshares by 195.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 61,879 shares of the company’s stock worth $1,076,000 after acquiring an additional 40,962 shares in the last quarter. Geode Capital Management LLC boosted its position in Carter Bankshares by 3.6% during the 3rd quarter. Geode Capital Management LLC now owns 523,591 shares of the company’s stock worth $9,107,000 after acquiring an additional 18,109 shares during the period. Kingsview Wealth Management LLC purchased a new position in Carter Bankshares during the 4th quarter valued at about $635,000. Finally, Empowered Funds LLC increased its holdings in shares of Carter Bankshares by 5.1% in the 4th quarter. Empowered Funds LLC now owns 84,568 shares of the company’s stock valued at $1,488,000 after purchasing an additional 4,093 shares during the period. 41.48% of the stock is currently owned by institutional investors and hedge funds.

Carter Bankshares Price Performance

NASDAQ CARE opened at $17.14 on Tuesday. The company has a 50 day simple moving average of $17.49 and a 200-day simple moving average of $17.81. Carter Bankshares, Inc. has a 52-week low of $10.95 and a 52-week high of $20.40. The firm has a market capitalization of $395.45 million, a price-to-earnings ratio of 16.17 and a beta of 0.98. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89.

Carter Bankshares (NASDAQ:CARE) last released its earnings results on Thursday, January 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. Equities research analysts predict 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.