Carter Bankshares, Inc. (NASDAQ:CARE) Short Interest Update

Carter Bankshares, Inc. (NASDAQ:CARE) was the target of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 638,700 shares, a decline of 8.0% from the December 31st total of 694,400 shares. Approximately 2.9% of the company’s stock are sold short. Based on an average daily trading volume, of 72,100 shares, the short-interest ratio is presently 8.9 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in Carter Bankshares by 23.6% in the fourth quarter. SG Americas Securities LLC now owns 9,838 shares of the company’s stock worth $173,000 after buying an additional 1,879 shares in the last quarter. Rhumbline Advisers raised its position in shares of Carter Bankshares by 3.9% during the fourth quarter. Rhumbline Advisers now owns 50,637 shares of the company’s stock valued at $891,000 after buying an additional 1,906 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Carter Bankshares by 5.3% during the third quarter. Empowered Funds LLC now owns 80,475 shares of the company’s stock worth $1,399,000 after acquiring an additional 4,020 shares during the last quarter. Global Retirement Partners LLC purchased a new position in Carter Bankshares during the fourth quarter valued at $77,000. Finally, Truist Financial Corp increased its holdings in Carter Bankshares by 43.5% in the 2nd quarter. Truist Financial Corp now owns 17,790 shares of the company’s stock valued at $269,000 after acquiring an additional 5,394 shares during the last quarter. 41.48% of the stock is currently owned by institutional investors.

Carter Bankshares Stock Down 1.4 %

Shares of NASDAQ:CARE traded down $0.25 during trading on Monday, reaching $17.37. 75,389 shares of the stock traded hands, compared to its average volume of 63,052. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. Carter Bankshares has a 52-week low of $10.95 and a 52-week high of $20.40. The stock has a market cap of $400.76 million, a P/E ratio of 16.39 and a beta of 1.00. The stock has a 50-day moving average of $17.90 and a two-hundred day moving average of $17.58.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings results on Thursday, January 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.16. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. As a group, sell-side analysts expect that Carter Bankshares will post 1.26 earnings per share 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.