Los Angeles Capital Management LLC Sells 3,900 Shares of Carter Bankshares, Inc. (NASDAQ:CARE)

Los Angeles Capital Management LLC decreased its stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 11.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 31,337 shares of the company’s stock after selling 3,900 shares during the quarter. Los Angeles Capital Management LLC owned 0.14% of Carter Bankshares worth $545,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Truist Financial Corp increased its stake in Carter Bankshares by 43.5% during the second quarter. Truist Financial Corp now owns 17,790 shares of the company’s stock valued at $269,000 after acquiring an additional 5,394 shares during the period. Mendon Capital Advisors Corp acquired a new position in shares of Carter Bankshares in the second quarter valued at $454,000. Vanguard Group Inc. lifted its position in Carter Bankshares by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,245,205 shares of the company’s stock worth $15,739,000 after purchasing an additional 17,327 shares during the period. American Century Companies Inc. increased its holdings in Carter Bankshares by 8.2% in the 2nd quarter. American Century Companies Inc. now owns 337,743 shares of the company’s stock valued at $5,107,000 after buying an additional 25,472 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Carter Bankshares in the 2nd quarter valued at $239,000. Institutional investors and hedge funds own 41.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CARE. Hovde Group initiated coverage on shares of Carter Bankshares in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $22.00 target price on the stock. Raymond James upped their price objective on Carter Bankshares from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th.

Carter Bankshares Stock Down 2.2 %

Shares of NASDAQ CARE opened at $19.04 on Friday. Carter Bankshares, Inc. has a 52-week low of $10.95 and a 52-week high of $20.40. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 0.89. The business has a fifty day moving average of $18.06 and a two-hundred day moving average of $15.80. The stock has a market cap of $439.25 million, a PE ratio of 30.71 and a beta of 1.02.

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.