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

Fourthstone LLC lifted its stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 100.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 551,013 shares of the company’s stock after purchasing an additional 276,532 shares during the period. Carter Bankshares comprises 1.9% of Fourthstone LLC’s investment portfolio, making the stock its 14th biggest position. Fourthstone LLC’s holdings in Carter Bankshares were worth $9,692,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CARE. Invesco Ltd. boosted its holdings in Carter Bankshares by 1.7% in the 4th quarter. Invesco Ltd. now owns 38,142 shares of the company’s stock worth $671,000 after buying an additional 643 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Carter Bankshares by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 65,616 shares of the company’s stock worth $1,154,000 after acquiring an additional 1,790 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Carter Bankshares by 23.6% during the fourth quarter. SG Americas Securities LLC now owns 9,838 shares of the company’s stock worth $173,000 after purchasing an additional 1,879 shares in the last quarter. Rhumbline Advisers raised its stake in Carter Bankshares by 3.9% in the 4th quarter. Rhumbline Advisers now owns 50,637 shares of the company’s stock valued at $891,000 after purchasing an additional 1,906 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in Carter Bankshares by 11.3% in the 4th quarter. Wells Fargo & Company MN now owns 28,696 shares of the company’s stock valued at $505,000 after purchasing an additional 2,917 shares in the last quarter. Institutional investors and hedge funds own 41.48% of the company’s stock.

Carter Bankshares Price Performance

Carter Bankshares stock opened at $14.68 on Thursday. The company has a fifty day simple moving average of $16.33 and a 200-day simple moving average of $17.48. The firm has a market capitalization of $339.56 million, a price-to-earnings ratio of 13.85 and a beta of 0.63. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. Carter Bankshares, Inc. has a 52-week low of $10.95 and a 52-week high of $20.40.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings data on Thursday, January 23rd. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.16. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. On average, equities analysts anticipate that Carter Bankshares, Inc. will post 1.26 EPS for the current fiscal 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.