State Street Corp Buys 19,751 Shares of Carter Bankshares, Inc. (NASDAQ:CARE)

State Street Corp lifted its position in Carter Bankshares, Inc. (NASDAQ:CARE) by 4.1% during the 3rd quarter, Holdings Channel reports. The firm owned 496,603 shares of the company’s stock after acquiring an additional 19,751 shares during the period. State Street Corp’s holdings in Carter Bankshares were worth $8,636,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Carter Bankshares by 9.6% in the second 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. Los Angeles Capital Management LLC lifted its holdings in 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 buying an additional 6,450 shares during the period. American Century Companies Inc. grew its position 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 worth $5,107,000 after buying an additional 25,472 shares during the last quarter. Dimensional Fund Advisors LP grew its position 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 buying an additional 74,317 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Carter Bankshares by 27.8% during the second 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 period. 41.48% of the stock is owned by hedge funds and other institutional investors.

Carter Bankshares Price Performance

Shares of NASDAQ CARE opened at $17.61 on Friday. Carter Bankshares, Inc. has a 1 year low of $10.95 and a 1 year high of $20.40. The stock has a market capitalization of $406.30 million, a P/E ratio of 28.40 and a beta of 1.00. The company’s 50-day moving average is $18.62 and its 200 day moving average is $16.96. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89.

Analyst Upgrades and Downgrades

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

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.