Los Angeles Capital Management LLC Has $453,000 Position in Carter Bankshares, Inc. (NASDAQ:CARE)

Los Angeles Capital Management LLC cut its holdings in Carter Bankshares, Inc. (NASDAQ:CARE) by 17.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,737 shares of the company’s stock after selling 5,600 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Carter Bankshares were worth $453,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Fourthstone LLC raised its holdings in shares of Carter Bankshares by 205.3% during the 3rd quarter. Fourthstone LLC now owns 274,481 shares of the company’s stock valued at $4,773,000 after purchasing an additional 184,565 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Carter Bankshares during the third quarter worth $2,766,000. JPMorgan Chase & Co. raised its holdings in Carter Bankshares by 195.8% during the third quarter. JPMorgan Chase & Co. now owns 61,879 shares of the company’s stock valued at $1,076,000 after buying an additional 40,962 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new stake in shares of Carter Bankshares in the third quarter worth about $706,000. Finally, Kingsview Wealth Management LLC bought a new stake in shares of Carter Bankshares during the 4th quarter worth about $635,000. 41.48% of the stock is owned by institutional investors.

Carter Bankshares Stock Performance

Shares of NASDAQ CARE opened at $17.14 on Tuesday. The business’s 50-day simple moving average is $17.49 and its 200-day simple moving average is $17.81. 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 52 week low of $10.95 and a 52 week high of $20.40. The firm has a market cap of $395.45 million, a price-to-earnings ratio of 16.17 and a beta of 0.98.

Carter Bankshares (NASDAQ:CARE) last announced its quarterly earnings results on Thursday, January 23rd. The company reported $0.37 EPS for the quarter, beating the consensus estimate 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, equities research analysts expect that Carter Bankshares, Inc. 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.