Wells Fargo & Company MN Purchases 2,917 Shares of Carter Bankshares, Inc. (NASDAQ:CARE)

Wells Fargo & Company MN raised its position in Carter Bankshares, Inc. (NASDAQ:CARE) by 11.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,696 shares of the company’s stock after buying an additional 2,917 shares during the quarter. Wells Fargo & Company MN owned about 0.12% of Carter Bankshares worth $505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC bought a new position in Carter Bankshares in the fourth quarter valued at about $77,000. SG Americas Securities LLC grew its holdings in shares of Carter Bankshares by 23.6% during the 4th 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 during the last quarter. Prudential Financial Inc. acquired a new position in Carter Bankshares during the 4th quarter worth approximately $227,000. Partners in Financial Planning bought a new position in Carter Bankshares in the 4th quarter valued at approximately $256,000. Finally, Proficio Capital Partners LLC acquired a new stake in Carter Bankshares in the fourth quarter valued at approximately $335,000. 41.48% of the stock is currently owned by institutional investors and hedge funds.

Carter Bankshares Stock Up 1.8 %

Shares of NASDAQ:CARE opened at $15.68 on Friday. Carter Bankshares, Inc. has a 52-week low of $11.96 and a 52-week high of $20.40. The company has a market capitalization of $363.16 million, a PE ratio of 14.79 and a beta of 0.68. 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 company has a fifty day moving average of $15.77 and a 200-day moving average of $17.30.

Carter Bankshares (NASDAQ:CARE) last issued its quarterly earnings data on Thursday, April 24th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $37.22 million during the quarter, compared to analyst estimates of $34.90 million. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. On average, equities analysts predict 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.