Carter Bankshares, Inc. (NASDAQ:CARE) Short Interest Down 10.1% in March

Carter Bankshares, Inc. (NASDAQ:CARE) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 249,900 shares, a decrease of 10.1% from the March 15th total of 277,900 shares. Based on an average daily trading volume, of 56,000 shares, the short-interest ratio is presently 4.5 days. Currently, 1.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Carter Bankshares

A number of large investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP raised its position in Carter Bankshares by 6.0% during the fourth quarter. Engineers Gate Manager LP now owns 11,868 shares of the company’s stock worth $197,000 after acquiring an additional 672 shares during the period. Rhumbline Advisers raised its position in shares of Carter Bankshares by 2.1% in the first quarter. Rhumbline Advisers now owns 37,765 shares of the company’s stock valued at $529,000 after buying an additional 760 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Carter Bankshares by 236.0% in the third quarter. Tower Research Capital LLC TRC now owns 1,660 shares of the company’s stock valued at $27,000 after buying an additional 1,166 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Carter Bankshares by 6.3% in the second quarter. JPMorgan Chase & Co. now owns 20,319 shares of the company’s stock valued at $301,000 after buying an additional 1,198 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Carter Bankshares by 9.8% in the first quarter. First Trust Advisors LP now owns 13,480 shares of the company’s stock valued at $234,000 after buying an additional 1,200 shares during the last quarter. 41.48% of the stock is currently owned by institutional investors and hedge funds.

Carter Bankshares Stock Performance

Shares of NASDAQ CARE opened at $11.46 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. The company’s fifty day moving average price is $12.92 and its 200 day moving average price is $13.04. The company has a market capitalization of $263.81 million, a PE ratio of 11.58 and a beta of 0.94. Carter Bankshares has a 1 year low of $10.43 and a 1 year high of $16.74.

Carter Bankshares (NASDAQ:CARE) last posted its quarterly earnings data on Thursday, January 25th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19). The company had revenue of $30.67 million for the quarter, compared to analyst estimates of $32.62 million. Carter Bankshares had a return on equity of 7.49% and a net margin of 10.89%. On average, research analysts predict that Carter Bankshares will post 1.83 earnings per share for the current year.

About Carter Bankshares

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.