Bank of New York Mellon Corp Has $1.24 Million Holdings in Carter Bankshares, Inc. (NASDAQ:CARE)

Bank of New York Mellon Corp trimmed its holdings in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,240 shares of the company’s stock after selling 4,763 shares during the period. Bank of New York Mellon Corp’s holdings in Carter Bankshares were worth $1,236,000 as of its most recent SEC filing.

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

Carter Bankshares Stock Down 0.7 %

Shares of CARE opened at $16.48 on Monday. The business’s fifty day moving average price is $17.25 and its two-hundred day moving average price is $17.78. The firm has a market capitalization of $381.20 million, a price-to-earnings ratio of 15.55 and a beta of 0.95. Carter Bankshares, Inc. has a 52 week low of $10.95 and a 52 week high of $20.40. 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 (NASDAQ:CARE) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.37 earnings per share (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%. On average, analysts predict that Carter Bankshares, Inc. will post 1.26 earnings per share for the current 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.