State Street Corp Boosts Stake in Carter Bankshares, Inc. (NASDAQ:CARE)

State Street Corp raised its holdings in Carter Bankshares, Inc. (NASDAQ:CARE) by 4.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 496,603 shares of the company’s stock after acquiring an additional 19,751 shares during the period. State Street Corp owned approximately 2.15% of Carter Bankshares worth $8,636,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of CARE. Fourthstone LLC lifted its holdings in shares of Carter Bankshares by 205.3% during the 3rd quarter. Fourthstone LLC now owns 274,481 shares of the company’s stock worth $4,773,000 after acquiring an additional 184,565 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Carter Bankshares during the third quarter worth about $2,766,000. Dimensional Fund Advisors LP boosted its holdings in shares of Carter Bankshares by 9.1% in the 2nd 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 in the last quarter. Basswood Capital Management L.L.C. bought a new position in shares of Carter Bankshares during the 3rd quarter valued at about $706,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Carter Bankshares during the 2nd quarter valued at about $517,000. Institutional investors own 41.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group assumed coverage on Carter Bankshares in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $22.00 target price for the company.

Carter Bankshares Price Performance

Shares of NASDAQ:CARE opened at $17.61 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. The stock has a market cap of $406.30 million, a PE ratio of 28.40 and a beta of 1.00. The company’s fifty day moving average is $18.62 and its 200 day moving average is $16.96. Carter Bankshares, Inc. has a 52 week low of $10.95 and a 52 week high of $20.40.

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.