Carter Bankshares, Inc. (NASDAQ:CARE) Short Interest Update

Carter Bankshares, Inc. (NASDAQ:CARE) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 249,900 shares, a decline of 10.1% from the March 15th total of 277,900 shares. Based on an average trading volume of 56,000 shares, the days-to-cover ratio is presently 4.5 days. Currently, 1.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CARE. Vanguard Group Inc. grew its position in Carter Bankshares by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 1,227,878 shares of the company’s stock worth $18,381,000 after acquiring an additional 13,158 shares in the last quarter. Barclays PLC grew its position in Carter Bankshares by 686.4% in the fourth quarter. Barclays PLC now owns 31,039 shares of the company’s stock worth $464,000 after acquiring an additional 27,092 shares in the last quarter. Bridgeway Capital Management LLC grew its position in Carter Bankshares by 3.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 183,418 shares of the company’s stock worth $2,746,000 after acquiring an additional 6,528 shares in the last quarter. Royal Bank of Canada grew its position in Carter Bankshares by 205.9% in the fourth quarter. Royal Bank of Canada now owns 12,133 shares of the company’s stock worth $181,000 after acquiring an additional 8,167 shares in the last quarter. Finally, Northern Trust Corp grew its position in Carter Bankshares by 3.8% in the fourth quarter. Northern Trust Corp now owns 203,594 shares of the company’s stock worth $3,048,000 after acquiring an additional 7,425 shares in the last quarter. 41.48% of the stock is currently owned by hedge funds and other institutional investors.

Carter Bankshares Price Performance

Shares of CARE traded down $0.18 during mid-day trading on Tuesday, reaching $11.15. 37,022 shares of the stock traded hands, compared to its average volume of 55,763. The firm has a fifty day moving average price of $12.87 and a 200 day moving average price of $13.03. The company has a market cap of $256.67 million, a price-to-earnings ratio of 11.44 and a beta of 0.94. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.12. Carter Bankshares has a 1 year low of $10.43 and a 1 year high of $16.74.

Carter Bankshares (NASDAQ:CARE) last released its quarterly earnings results on Thursday, January 25th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19). The firm had revenue of $30.67 million for the quarter, compared to analysts’ expectations of $32.62 million. Carter Bankshares had a net margin of 10.89% and a return on equity of 7.49%. As a group, equities research analysts predict that Carter Bankshares will post 1.83 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.