Campbell & CO Investment Adviser LLC Purchases New Shares in Carter Bankshares, Inc. $CARE

Campbell & CO Investment Adviser LLC acquired a new stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 16,909 shares of the company’s stock, valued at approximately $293,000. Campbell & CO Investment Adviser LLC owned approximately 0.07% of Carter Bankshares at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bailard Inc. purchased a new stake in shares of Carter Bankshares in the first quarter valued at about $301,000. Mackenzie Financial Corp grew its position in Carter Bankshares by 78.6% in the 1st quarter. Mackenzie Financial Corp now owns 50,069 shares of the company’s stock worth $810,000 after purchasing an additional 22,039 shares in the last quarter. Vanguard Group Inc. increased its stake in Carter Bankshares by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,292,161 shares of the company’s stock valued at $20,907,000 after buying an additional 15,221 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Carter Bankshares by 18.6% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 51,488 shares of the company’s stock worth $833,000 after buying an additional 8,070 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Carter Bankshares during the 1st quarter worth approximately $9,020,000. 41.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARE has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Carter Bankshares in a report on Thursday. Wall Street Zen cut Carter Bankshares from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Zacks Research downgraded Carter Bankshares from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 28th. Finally, Raymond James Financial set a $22.00 target price on Carter Bankshares and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.00.

Insiders Place Their Bets

In other news, Director Robert M. Bolton sold 1,901 shares of Carter Bankshares stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $17.23, for a total value of $32,754.23. Following the completion of the transaction, the director owned 10,827 shares in the company, valued at $186,549.21. This trade represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.86% of the stock is owned by corporate insiders.

Carter Bankshares Stock Performance

Shares of CARE opened at $16.96 on Tuesday. Carter Bankshares, Inc. has a 1 year low of $13.60 and a 1 year high of $20.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.92 and a quick ratio of 0.92. The stock’s fifty day moving average price is $18.72 and its two-hundred day moving average price is $17.86. The firm has a market cap of $374.65 million, a PE ratio of 12.47 and a beta of 0.84.

Carter Bankshares (NASDAQ:CARE) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.13). Carter Bankshares had a return on equity of 7.65% and a net margin of 12.37%.The firm had revenue of $39.09 million during the quarter, compared to analysts’ expectations of $39.20 million. On average, equities research analysts forecast that Carter Bankshares, Inc. will post 1.26 EPS for the current 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.