Northern Trust Corp Grows Stock Position in Carter Bankshares, Inc. (NASDAQ:CARE)

Northern Trust Corp increased its stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,887 shares of the company’s stock after purchasing an additional 4,704 shares during the quarter. Northern Trust Corp owned 0.85% of Carter Bankshares worth $3,463,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its holdings in Carter Bankshares by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,988 shares of the company’s stock worth $17,871,000 after purchasing an additional 51,987 shares during the period. Fourthstone LLC increased its holdings in Carter Bankshares by 100.7% during the 4th quarter. Fourthstone LLC now owns 551,013 shares of the company’s stock worth $9,692,000 after purchasing an additional 276,532 shares during the period. American Century Companies Inc. increased its holdings in Carter Bankshares by 1.3% during the 4th quarter. American Century Companies Inc. now owns 343,193 shares of the company’s stock worth $6,037,000 after purchasing an additional 4,238 shares during the period. Kennedy Capital Management LLC increased its holdings in Carter Bankshares by 27.9% during the 4th quarter. Kennedy Capital Management LLC now owns 324,569 shares of the company’s stock worth $5,709,000 after purchasing an additional 70,836 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Carter Bankshares by 101.1% during the 4th quarter. JPMorgan Chase & Co. now owns 124,453 shares of the company’s stock worth $2,189,000 after purchasing an additional 62,574 shares during the period. Hedge funds and other institutional investors own 41.48% of the company’s stock.

Carter Bankshares Price Performance

Shares of NASDAQ CARE opened at $16.00 on Friday. The stock’s 50-day moving average is $15.49 and its two-hundred day moving average is $17.04. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.89 and a quick ratio of 0.89. Carter Bankshares, Inc. has a 1-year low of $11.96 and a 1-year high of $20.40. The company has a market cap of $370.58 million, a price-to-earnings ratio of 15.09 and a beta of 0.68.

Carter Bankshares (NASDAQ:CARE) last posted its earnings results on Thursday, April 24th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.30 by $0.02. The firm had revenue of $37.22 million for the quarter, compared to analyst estimates of $34.90 million. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. Analysts forecast that Carter Bankshares, Inc. will post 1.26 EPS for the current fiscal year.

Carter Bankshares Company Profile

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.