Partners in Financial Planning Makes New Investment in Carter Bankshares, Inc. (NASDAQ:CARE)

Partners in Financial Planning bought a new stake in Carter Bankshares, Inc. (NASDAQ:CARE) in the fourth quarter, HoldingsChannel reports. The fund bought 14,547 shares of the company’s stock, valued at approximately $256,000.

Several other hedge funds have also modified their holdings of CARE. Arrowstreet Capital Limited Partnership boosted its holdings in Carter Bankshares by 10.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 109,852 shares of the company’s stock worth $1,932,000 after acquiring an additional 10,599 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Carter Bankshares by 101.1% in the fourth quarter. JPMorgan Chase & Co. now owns 124,453 shares of the company’s stock valued at $2,189,000 after purchasing an additional 62,574 shares during the period. Prudential Financial Inc. purchased a new stake in Carter Bankshares during the 4th quarter worth $227,000. American Century Companies Inc. lifted its holdings in Carter Bankshares by 1.3% in the 4th quarter. American Century Companies Inc. now owns 343,193 shares of the company’s stock worth $6,037,000 after buying an additional 4,238 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Carter Bankshares by 170.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 43,418 shares of the company’s stock valued at $764,000 after buying an additional 27,390 shares during the last quarter. 41.48% of the stock is currently owned by hedge funds and other institutional investors.

Carter Bankshares Stock Down 2.3 %

Shares of NASDAQ CARE opened at $16.32 on Monday. 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 1 year low of $10.95 and a 1 year high of $20.40. The stock’s 50-day simple moving average is $17.20 and its 200-day simple moving average is $17.77. The firm has a market cap of $377.50 million, a price-to-earnings ratio of 15.40 and a beta of 0.95.

Carter Bankshares (NASDAQ:CARE) last announced its earnings results on Thursday, January 23rd. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts anticipate that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal year.

Carter Bankshares 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.