Squarepoint Ops LLC Acquires Shares of 11,768 Carter Bankshares, Inc. (NASDAQ:CARE)

Squarepoint Ops LLC acquired a new stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 11,768 shares of the company’s stock, valued at approximately $147,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. PDT Partners LLC boosted its stake in Carter Bankshares by 20.5% during the second quarter. PDT Partners LLC now owns 12,300 shares of the company’s stock worth $154,000 after buying an additional 2,091 shares during the period. First Trust Advisors LP increased its holdings in shares of Carter Bankshares by 6.9% in the 2nd quarter. First Trust Advisors LP now owns 13,725 shares of the company’s stock valued at $172,000 after acquiring an additional 885 shares during the last quarter. Trexquant Investment LP purchased a new position in Carter Bankshares in the second quarter valued at approximately $217,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Carter Bankshares by 15.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,378 shares of the company’s stock valued at $217,000 after buying an additional 2,283 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Carter Bankshares by 287.9% in the 2nd quarter. Morgan Stanley now owns 21,553 shares of the company’s stock valued at $269,000 after buying an additional 15,996 shares in the last quarter. 35.80% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on CARE. Royal Bank of Canada decreased their price target on shares of Carter Bankshares from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 10th. Zacks Investment Research upgraded shares of Carter Bankshares from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Monday, November 1st.

Shares of Carter Bankshares stock opened at $15.74 on Thursday. Carter Bankshares, Inc. has a fifty-two week low of $9.20 and a fifty-two week high of $16.40. The business’s fifty day simple moving average is $14.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.82 and a current ratio of 0.82.

Carter Bankshares (NASDAQ:CARE) last released its earnings results on Sunday, October 31st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.14. Carter Bankshares had a return on equity of 7.08% and a net margin of 17.74%. The firm had revenue of $36.32 million during the quarter, compared to analyst estimates of $33.43 million. Analysts expect that Carter Bankshares, Inc. will post 1.12 earnings per share for the current fiscal year.

Carter Bankshares Company Profile

Carter Bankshares, Inc operates as a bank holding company, which offers deposit accounts, online account opening, and commercial, small business, and personal loan products and services. The company was founded by Worth Harris Carter, Jr. in 1974 and is headquartered in Martinsville, VA.

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Institutional Ownership by Quarter for Carter Bankshares (NASDAQ:CARE)

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