Fourthstone LLC Raises Holdings in Carter Bankshares, Inc. (NASDAQ:CARE)

Fourthstone LLC raised its position in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 205.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 274,481 shares of the company’s stock after acquiring an additional 184,565 shares during the period. Carter Bankshares makes up 1.1% of Fourthstone LLC’s portfolio, making the stock its 23rd biggest position. Fourthstone LLC owned about 1.19% of Carter Bankshares worth $4,773,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Carter Bankshares by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,245,205 shares of the company’s stock worth $15,739,000 after purchasing an additional 17,327 shares during the period. Dimensional Fund Advisors LP increased its position in shares of 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 acquiring an additional 74,317 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Carter Bankshares by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 337,743 shares of the company’s stock valued at $5,107,000 after acquiring an additional 25,472 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Carter Bankshares by 9.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 93,138 shares of the company’s stock valued at $1,408,000 after acquiring an additional 8,160 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Carter Bankshares by 27.8% during the 2nd quarter. Renaissance Technologies LLC now owns 83,100 shares of the company’s stock worth $1,256,000 after purchasing an additional 18,100 shares during the period. 41.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CARE shares. Hovde Group assumed coverage on Carter Bankshares in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $22.00 price objective on the stock. Raymond James increased their price objective on shares of Carter Bankshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th.

Carter Bankshares Stock Down 0.7 %

CARE traded down $0.13 on Thursday, reaching $18.71. The company’s stock had a trading volume of 51,726 shares, compared to its average volume of 71,755. Carter Bankshares, Inc. has a 1 year low of $10.95 and a 1 year high of $20.40. The business’s 50 day moving average is $18.28 and its 200 day moving average is $16.15. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89. The stock has a market cap of $431.68 million, a price-to-earnings ratio of 30.18 and a beta of 1.02.

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.