Carter Bankshares, Inc. (NASDAQ:CARE) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,616 shares of the company’s stock after purchasing an additional 1,790 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.28% of Carter Bankshares worth $1,154,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Carter Bankshares by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 523,591 shares of the company’s stock worth $9,107,000 after buying an additional 18,109 shares in the last quarter. State Street Corp lifted its stake in shares of Carter Bankshares by 4.1% in the third quarter. State Street Corp now owns 496,603 shares of the company’s stock worth $8,636,000 after acquiring an additional 19,751 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Carter Bankshares in the third quarter worth about $2,766,000. Empowered Funds LLC boosted its holdings in Carter Bankshares by 5.1% in the fourth 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 last quarter. Finally, JPMorgan Chase & Co. grew its stake in Carter Bankshares by 195.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 61,879 shares of the company’s stock valued at $1,076,000 after purchasing an additional 40,962 shares in the last quarter. Hedge funds and other institutional investors own 41.48% of the company’s stock.

Carter Bankshares Stock Down 2.3 %

CARE stock opened at $16.32 on Monday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $17.20 and a 200-day simple moving average of $17.77. The company has a market capitalization of $377.50 million, a P/E ratio of 15.40 and a beta of 0.95. Carter Bankshares, Inc. has a twelve month low of $10.95 and a twelve month high of $20.40.

Carter Bankshares (NASDAQ:CARE) last issued its earnings results on Thursday, January 23rd. The company reported $0.37 earnings per share 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%. On average, equities research analysts predict that Carter Bankshares, Inc. will post 1.26 earnings per share 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.