Carter Bankshares, Inc. (NASDAQ:CARE) Position Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Carter Bankshares, Inc. (NASDAQ:CARE) by 9.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 892,414 shares of the company’s stock after buying an additional 74,317 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.88% of Carter Bankshares worth $13,493,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Black Maple Capital Management LP bought a new position in Carter Bankshares in the first quarter worth about $293,000. Los Angeles Capital Management LLC lifted its holdings in shares of Carter Bankshares by 22.4% in the 2nd 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 last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Carter Bankshares by 9.6% in 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 during the last quarter. American Century Companies Inc. grew its stake in Carter Bankshares by 8.2% during the 2nd quarter. American Century Companies Inc. now owns 337,743 shares of the company’s stock worth $5,107,000 after buying an additional 25,472 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Carter Bankshares by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,245,205 shares of the company’s stock worth $15,739,000 after buying an additional 17,327 shares during the period. 41.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Hovde Group initiated coverage on shares of Carter Bankshares in a report on Wednesday. They set an “outperform” rating and a $22.00 price target for the company. Raymond James upped their target price on shares of Carter Bankshares from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th.

Carter Bankshares Trading Up 0.4 %

Shares of CARE stock opened at $17.07 on Friday. Carter Bankshares, Inc. has a 1 year low of $10.43 and a 1 year high of $18.30. The firm has a market capitalization of $392.87 million, a PE ratio of 29.95 and a beta of 1.03. The stock has a fifty day moving average of $16.72 and a two-hundred day moving average of $14.45. 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 (NASDAQ:CARE) last announced its earnings results on Thursday, July 25th. The company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. Carter Bankshares had a net margin of 5.41% and a return on equity of 4.09%. The firm had revenue of $60.12 million during the quarter, compared to analyst estimates of $34.62 million. As a group, research analysts expect that Carter Bankshares, Inc. will post 0.88 EPS for the current 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.