JPMorgan Chase & Co. Boosts Holdings in Carter Bankshares, Inc. (NASDAQ:CARE)

JPMorgan Chase & Co. grew its position in Carter Bankshares, Inc. (NASDAQ:CARE) by 195.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,879 shares of the company’s stock after acquiring an additional 40,962 shares during the quarter. JPMorgan Chase & Co. owned about 0.27% of Carter Bankshares worth $1,076,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC bought a new position in Carter Bankshares during the 3rd quarter valued at about $138,000. Semanteon Capital Management LP purchased a new position in shares of Carter Bankshares during the third quarter valued at approximately $196,000. XTX Topco Ltd purchased a new position in shares of Carter Bankshares during the second quarter valued at approximately $239,000. Truist Financial Corp grew its stake in shares of Carter Bankshares by 43.5% during the second quarter. Truist Financial Corp now owns 17,790 shares of the company’s stock valued at $269,000 after buying an additional 5,394 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Carter Bankshares in the third quarter worth approximately $279,000. Hedge funds and other institutional investors own 41.48% of the company’s stock.

Carter Bankshares Trading Up 0.1 %

CARE stock opened at $17.79 on Friday. Carter Bankshares, Inc. has a 12 month low of $10.95 and a 12 month high of $20.40. The firm’s 50-day moving average is $18.00 and its 200 day moving average is $17.49. The company has a market capitalization of $410.42 million, a PE ratio of 28.69 and a beta of 1.00. 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 issued its earnings results on Thursday, January 23rd. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Carter Bankshares had a net margin of 6.07% and a return on equity of 4.17%. On average, research analysts anticipate that Carter Bankshares, Inc. will post 0.91 EPS for the current year.

Analysts Set New Price Targets

Separately, Hovde Group began coverage on Carter Bankshares in a report on Wednesday, October 2nd. They set an “outperform” rating and a $22.00 price objective for the company.

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.