Cubist Systematic Strategies LLC Has $397,000 Stock Position in Carter Bankshares, Inc. $CARE

Cubist Systematic Strategies LLC boosted its holdings in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 3.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,547 shares of the company’s stock after buying an additional 744 shares during the period. Cubist Systematic Strategies LLC owned about 0.11% of Carter Bankshares worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of Carter Bankshares during the fourth quarter valued at $196,000. Man Group plc bought a new stake in shares of Carter Bankshares in the 4th quarter valued at about $228,000. Deutsche Bank AG increased its stake in shares of Carter Bankshares by 88.6% in the 4th quarter. Deutsche Bank AG now owns 15,863 shares of the company’s stock valued at $279,000 after acquiring an additional 7,452 shares during the last quarter. Martingale Asset Management L P acquired a new position in shares of Carter Bankshares in the 1st quarter valued at approximately $287,000. Finally, Bailard Inc. acquired a new position in shares of Carter Bankshares in the 1st quarter valued at approximately $301,000. 41.48% of the stock is owned by institutional investors.

Carter Bankshares Price Performance

Shares of CARE opened at $19.83 on Thursday. Carter Bankshares, Inc. has a 52-week low of $13.60 and a 52-week high of $20.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.89 and a current ratio of 0.89. The stock has a 50 day simple moving average of $18.39 and a 200 day simple moving average of $16.87. The firm has a market capitalization of $449.55 million, a PE ratio of 14.58 and a beta of 0.86.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings results on Thursday, July 24th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. Carter Bankshares had a return on equity of 7.68% and a net margin of 12.58%.The firm had revenue of $37.44 million during the quarter, compared to the consensus estimate of $37.33 million. Sell-side analysts predict that Carter Bankshares, Inc. will post 1.26 EPS for the current fiscal year.

Insider Activity at Carter Bankshares

In other news, Director Catharine L. Midkiff sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $17.76, for a total value of $35,520.00. Following the completion of the sale, the director owned 16,054 shares of the company’s stock, valued at approximately $285,119.04. This represents a 11.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 2.18% of the company’s stock.

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.