Russell Investments Group Ltd. reduced its stake in shares of Carter Bankshares, Inc. (NASDAQ: CARE – Get a rating) by 1.4% during the 1st quarter, according to the company in its latest filing with the Securities and Exchange Commission (SEC). The fund held 55,994 shares of the company after selling 806 shares during the period. Russell Investments Group Ltd. owned 0.22% of Carter Bank stock worth $971,000 when it last filed with the SEC.
A number of other big investors also changed their positions in the stock. Petiole USA ltd bought a new stake in Carter Bankshares in the 4th quarter at a value of $5,385,000. Maltese Capital Management LLC increased its holdings of Carter Bankshares shares by 283.2% during the 4th quarter. Maltese Capital Management LLC now owns 315,000 shares of the company worth $4,848,000 after purchasing an additional 232,800 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings of Carter Bankshares shares by 47.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 109,564 shares of the company worth $1,686,000 after purchasing an additional 35,509 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Carter Bankshares by 30.3% during the 4th quarter. Acadian Asset Management LLC now owns 47,955 shares of the company valued at $736,000 after purchasing an additional 11,157 shares during the period. Finally, PDT Partners LLC acquired a new position in Carter Bankshares in the fourth quarter worth approximately $192,000. 38.21% of the shares are currently held by hedge funds and other institutional investors.
Carter Bank Share Price Performance
Shares of CARE opened at $17.18 on Friday. The company has a 50-day simple moving average of $14.22 and a two-hundred-day simple moving average of $15.44. The stock has a market capitalization of $422.23 million, a PE ratio of 12.01 and a beta of 1.10. Carter Bankshares, Inc. has a 1-year minimum of $11.69 and a 1-year maximum of $17.99.
Analyst upgrades and downgrades
Separately, Raymond James upgraded Carter Bankshares from a “market performer” rating to an “outperformer” rating and set a target price of $16.00 on the stock in a research report on Thursday July 7. .
About Carter Bankshares
Carter Bankshares, Inc operates as a bank holding company for Carter Bank & Trust which provides various banking products and services. It accepts a variety of deposit products, including checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers commercial loans including secured and unsecured loans; consumer loans, such as secured and unsecured loans for automobile financing, home improvement, education, overdraft protection and personal investments, and residential mortgages; loans for the construction and acquisition of real estate; home equity lines of credit; and credit cards, as well as issues and holds fixed and variable rate mortgages.
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