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

Huber Capital Management LLC increased its stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 22.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 337,096 shares of the company’s stock after acquiring an additional 62,540 shares during the period. Huber Capital Management LLC’s holdings in Carter Bankshares were worth $4,217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of CARE. BlackRock Inc. grew its holdings in Carter Bankshares by 4.2% during the first quarter. BlackRock Inc. now owns 1,801,620 shares of the company’s stock worth $25,150,000 after acquiring an additional 73,434 shares during the period. Russell Investments Group Ltd. acquired a new stake in Carter Bankshares in the first quarter valued at approximately $1,653,000. JPMorgan Chase & Co. grew its holdings in Carter Bankshares by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 78,558 shares of the company’s stock valued at $1,097,000 after purchasing an additional 1,838 shares during the period. Martingale Asset Management L P acquired a new stake in Carter Bankshares in the first quarter valued at approximately $294,000. Finally, Renaissance Technologies LLC grew its holdings in Carter Bankshares by 39.3% in the first quarter. Renaissance Technologies LLC now owns 95,400 shares of the company’s stock valued at $1,332,000 after purchasing an additional 26,900 shares during the period. 35.86% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:CARE traded down $0.11 on Thursday, reaching $14.59. 808 shares of the company’s stock were exchanged, compared to its average volume of 69,163. Carter Bankshares, Inc. has a 52-week low of $6.72 and a 52-week high of $16.28. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $13.30 and a 200-day moving average of $13.29.

Carter Bankshares (NASDAQ:CARE) last announced its quarterly earnings results on Thursday, July 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.08). The company had revenue of $34.44 million during the quarter, compared to analysts’ expectations of $32.83 million. Analysts predict that Carter Bankshares, Inc. will post 1.07 EPS for the current year.

Several research firms have recently weighed in on CARE. Raymond James downgraded Carter Bankshares from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 8th. Zacks Investment Research downgraded Carter Bankshares from a “hold” rating to a “sell” rating in a research report on Wednesday, September 29th.

About Carter Bankshares

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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