Huber Capital Management LLC Sells 19,766 Shares of Carter Bankshares, Inc. (NASDAQ:CARE)

Huber Capital Management LLC decreased its holdings in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 8.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 212,467 shares of the company’s stock after selling 19,766 shares during the period. Huber Capital Management LLC owned approximately 0.92% of Carter Bankshares worth $3,213,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. XTX Topco Ltd bought a new stake in shares of Carter Bankshares in the 2nd quarter valued at about $239,000. Renaissance Technologies LLC increased its stake in Carter Bankshares by 27.8% in the second quarter. Renaissance Technologies LLC now owns 83,100 shares of the company’s stock valued at $1,256,000 after purchasing an additional 18,100 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Carter Bankshares by 9.1% in the second quarter. Dimensional Fund Advisors LP now owns 892,414 shares of the company’s stock worth $13,493,000 after purchasing an additional 74,317 shares during the period. American Century Companies Inc. boosted its position 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 in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position 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 in the last quarter. Institutional investors and hedge funds own 41.48% of the company’s stock.

Analysts Set New Price Targets

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

Carter Bankshares Trading Down 2.8 %

NASDAQ CARE opened at $17.68 on Friday. Carter Bankshares, Inc. has a one year low of $10.43 and a one year high of $18.30. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $406.91 million, a P/E ratio of 31.02 and a beta of 1.03. The stock’s 50-day moving average is $16.58 and its 200-day moving average is $14.13.

Carter Bankshares (NASDAQ:CARE) last announced its earnings results on Thursday, July 25th. The company reported $0.21 EPS for the quarter, hitting the consensus estimate 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 anticipate that Carter Bankshares, Inc. will post 0.88 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.