Huber Capital Management LLC Has $3.21 Million Position in Carter Bankshares, Inc. (NASDAQ:CARE)

Huber Capital Management LLC lessened its position in Carter Bankshares, Inc. (NASDAQ:CARE) by 8.5% during the second quarter, Holdings Channel reports. The institutional investor owned 212,467 shares of the company’s stock after selling 19,766 shares during the quarter. Huber Capital Management LLC’s holdings in Carter Bankshares were worth $3,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARE. XTX Topco Ltd bought a new position in shares of Carter Bankshares during the 2nd quarter worth approximately $239,000. Black Maple Capital Management LP acquired a new position in Carter Bankshares during the first quarter worth $293,000. Los Angeles Capital Management LLC grew its position in Carter Bankshares by 22.4% in the second quarter. Los Angeles Capital Management LLC now owns 35,237 shares of the company’s stock valued at $533,000 after purchasing an additional 6,450 shares in the last quarter. Trexquant Investment LP grew its position in Carter Bankshares by 35.0% in the fourth quarter. Trexquant Investment LP now owns 43,553 shares of the company’s stock valued at $652,000 after purchasing an additional 11,288 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Carter Bankshares by 27.8% in the 2nd quarter. Renaissance Technologies LLC now owns 83,100 shares of the company’s stock valued at $1,256,000 after buying an additional 18,100 shares during the last quarter. Institutional investors and hedge funds own 41.48% of the company’s stock.

Carter Bankshares Stock Down 2.8 %

CARE stock opened at $17.68 on Friday. The company has a market cap of $406.91 million, a price-to-earnings ratio of 31.02 and a beta of 1.03. Carter Bankshares, Inc. has a twelve month low of $10.43 and a twelve month high of $18.30. The business has a 50 day moving average price of $16.58 and a two-hundred day moving average price of $14.13. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.65.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. The company had revenue of $60.12 million during the quarter, compared to the consensus estimate of $34.62 million. Carter Bankshares had a return on equity of 4.09% and a net margin of 5.41%. Analysts anticipate that Carter Bankshares, Inc. will post 0.88 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James increased their price objective 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 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.