M3F Inc. Buys New Position in Carter Bank and Trust (NASDAQ:CARE)

M3F Inc. bought a new stake in shares of Carter Bank and Trust (NASDAQ:CARE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,000 shares of the company’s stock, valued at approximately $422,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. ELCO Management Co. LLC bought a new stake in Carter Bank and Trust during the 1st quarter valued at $399,000. Banc Funds Co. LLC bought a new stake in Carter Bank and Trust during the 1st quarter valued at $1,274,000. Permanens Capital L.P. bought a new stake in Carter Bank and Trust during the 1st quarter valued at $950,000. Commonwealth Equity Services LLC bought a new stake in Carter Bank and Trust during the 1st quarter valued at $260,000. Finally, Salzhauer Michael bought a new stake in Carter Bank and Trust during the 1st quarter valued at $514,000. 16.17% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ CARE traded down $0.01 during midday trading on Wednesday, hitting $20.12. 5,026 shares of the company traded hands, compared to its average volume of 28,286. Carter Bank and Trust has a 52 week low of $14.45 and a 52 week high of $21.14.

Carter Bank and Trust (NASDAQ:CARE) last announced its earnings results on Thursday, April 25th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.19. The company had revenue of $31.70 million for the quarter, compared to the consensus estimate of $34.03 million. As a group, equities research analysts expect that Carter Bank and Trust will post 1.13 EPS for the current year.

Separately, FIG Partners initiated coverage on Carter Bank and Trust in a research report on Monday, April 15th. They set a “market perform” rating and a $21.00 target price on the stock.

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Carter Bank and Trust Profile

Carter Bank & Trust provides a range of retail and commercial banking products and services in Virginia and North Carolina. It accepts checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers loans, such as secured and unsecured commercial loans; secured and unsecured consumer loans for financing automobiles, home improvements, education, and personal investments; real estate construction and acquisition loans; and fixed and variable rate mortgage loans.

Read More: Hedge Funds – How They Work For Investors

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Institutional Ownership by Quarter for Carter Bank and Trust (NASDAQ:CARE)

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