Bridgeway Capital Management LLC Increases Holdings in Carter Bankshares, Inc. (NASDAQ:CARE)

Bridgeway Capital Management LLC boosted its position in Carter Bankshares, Inc. (NASDAQ:CARE) by 2.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,053 shares of the company’s stock after purchasing an additional 4,093 shares during the period. Bridgeway Capital Management LLC owned about 0.63% of Carter Bankshares worth $2,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Barclays PLC raised its stake in shares of Carter Bankshares by 256.8% during the 3rd quarter. Barclays PLC now owns 29,813 shares of the company’s stock worth $519,000 after buying an additional 21,457 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Carter Bankshares by 195.8% in the third quarter. JPMorgan Chase & Co. now owns 61,879 shares of the company’s stock valued at $1,076,000 after purchasing an additional 40,962 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Carter Bankshares by 23.6% during the 4th quarter. SG Americas Securities LLC now owns 9,838 shares of the company’s stock worth $173,000 after purchasing an additional 1,879 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Carter Bankshares during the 4th quarter worth approximately $635,000. Finally, Empowered Funds LLC raised its position in shares of Carter Bankshares by 5.1% during the 4th quarter. Empowered Funds LLC now owns 84,568 shares of the company’s stock worth $1,488,000 after purchasing an additional 4,093 shares during the last quarter. 41.48% of the stock is owned by institutional investors and hedge funds.

Carter Bankshares Stock Performance

Carter Bankshares stock opened at $15.75 on Friday. 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, Inc. has a fifty-two week low of $11.96 and a fifty-two week high of $20.40. The stock has a fifty day moving average of $15.63 and a two-hundred day moving average of $17.23. The company has a market capitalization of $364.67 million, a price-to-earnings ratio of 14.85 and a beta of 0.68.

Carter Bankshares (NASDAQ:CARE) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. The business had revenue of $37.22 million during the quarter, compared to analyst estimates of $34.90 million. On average, analysts anticipate that Carter Bankshares, Inc. will post 1.26 EPS for the current fiscal year.

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.