Los Angeles Capital Management LLC Increases Position in Carter Bankshares, Inc. (NASDAQ:CARE)

Los Angeles Capital Management LLC boosted its position in Carter Bankshares, Inc. (NASDAQ:CARE) by 22.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,237 shares of the company’s stock after acquiring an additional 6,450 shares during the quarter. Los Angeles Capital Management LLC owned 0.15% of Carter Bankshares worth $533,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Black Maple Capital Management LP purchased a new position in shares of Carter Bankshares during the 1st quarter valued at about $293,000. Trexquant Investment LP raised its stake in shares of Carter Bankshares by 35.0% during the fourth quarter. Trexquant Investment LP now owns 43,553 shares of the company’s stock worth $652,000 after acquiring an additional 11,288 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Carter Bankshares by 9.6% during the second quarter. Bank of New York Mellon Corp now owns 93,138 shares of the company’s stock worth $1,408,000 after acquiring an additional 8,160 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Carter Bankshares by 31.8% in the 4th quarter. Russell Investments Group Ltd. now owns 95,579 shares of the company’s stock valued at $1,431,000 after purchasing an additional 23,085 shares in the last quarter. Finally, 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 valued at $15,739,000 after purchasing an additional 17,327 shares during the last quarter. Hedge funds and other institutional investors own 41.48% of the company’s stock.

Analysts Set New Price Targets

Separately, Raymond James boosted their price target on shares of 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 Up 0.9 %

Shares of CARE stock opened at $17.41 on Friday. The business has a 50-day moving average of $16.34 and a 200 day moving average of $13.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.91 and a quick ratio of 0.91. Carter Bankshares, Inc. has a 1-year low of $10.43 and a 1-year high of $17.81. The stock has a market capitalization of $400.69 million, a PE ratio of 30.54 and a beta of 1.03.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. The business had revenue of $60.12 million during the quarter, compared to analyst estimates of $34.62 million. Carter Bankshares had a return on equity of 4.09% and a net margin of 5.41%. As a group, sell-side analysts anticipate that Carter Bankshares, Inc. will post 0.88 earnings per share for the current 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.