Geode Capital Management LLC Sells 1,339 Shares of Carter Bankshares, Inc. (NASDAQ:CARE)

Geode Capital Management LLC decreased its position in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 0.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 522,252 shares of the company’s stock after selling 1,339 shares during the quarter. Geode Capital Management LLC owned 2.26% of Carter Bankshares worth $9,189,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new stake in Carter Bankshares during the 4th quarter valued at $77,000. SG Americas Securities LLC lifted its holdings 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 valued at $173,000 after purchasing an additional 1,879 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Carter Bankshares during the fourth quarter valued at $227,000. Partners in Financial Planning bought a new stake in Carter Bankshares in the 4th quarter worth about $256,000. Finally, Proficio Capital Partners LLC purchased a new position in Carter Bankshares in the 4th quarter worth about $335,000. Institutional investors own 41.48% of the company’s stock.

Carter Bankshares Price Performance

CARE opened at $15.34 on Thursday. The company’s 50-day simple moving average is $16.04 and its two-hundred day simple moving average is $17.41. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a market capitalization of $354.83 million, a P/E ratio of 14.47 and a beta of 0.63. Carter Bankshares, Inc. has a 52-week low of $11.41 and a 52-week high of $20.40.

Carter Bankshares (NASDAQ:CARE) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $0.37 earnings per share 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%. As a group, analysts predict that Carter Bankshares, Inc. will post 1.26 EPS 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.