30,000 Shares in Carter Bankshares, Inc. (NASDAQ:CARE) Acquired by Mendon Capital Advisors Corp

Mendon Capital Advisors Corp acquired a new stake in Carter Bankshares, Inc. (NASDAQ:CARE) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,000 shares of the company’s stock, valued at approximately $454,000. Mendon Capital Advisors Corp owned approximately 0.13% of Carter Bankshares at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Carter Bankshares by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,245,205 shares of the company’s stock valued at $15,739,000 after acquiring an additional 17,327 shares in the last quarter. Black Maple Capital Management LP bought a new stake in Carter Bankshares in the 1st quarter valued at about $293,000. Bank of New York Mellon Corp grew its position in shares of Carter Bankshares by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,138 shares of the company’s stock worth $1,408,000 after purchasing an additional 8,160 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Carter Bankshares by 22.4% during the second quarter. Los Angeles Capital Management LLC now owns 35,237 shares of the company’s stock worth $533,000 after purchasing an additional 6,450 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Carter Bankshares by 8.2% during the second quarter. American Century Companies Inc. now owns 337,743 shares of the company’s stock worth $5,107,000 after purchasing an additional 25,472 shares during the period. Institutional investors own 41.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James boosted their price target on Carter Bankshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th.

Carter Bankshares Stock Performance

CARE opened at $17.04 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.91 and a current ratio of 0.91. Carter Bankshares, Inc. has a 52-week low of $10.43 and a 52-week high of $18.30. The firm has a market cap of $392.18 million, a P/E ratio of 29.89 and a beta of 1.03. The business’s fifty day moving average is $16.71 and its 200-day moving average is $14.36.

Carter Bankshares (NASDAQ:CARE) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.21. The firm had revenue of $60.12 million for the quarter, compared to the consensus estimate of $34.62 million. Carter Bankshares had a net margin of 5.41% and a return on equity of 4.09%. Sell-side analysts expect that Carter Bankshares, Inc. will post 0.88 EPS for the current fiscal year.

Carter Bankshares Company 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.