Short Interest in Carter Bankshares, Inc. (NASDAQ:CARE) Decreases By 10.1%

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

Institutional Trading of Carter Bankshares

Institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP lifted its holdings in Carter Bankshares by 58.1% during the 3rd quarter. Trexquant Investment LP now owns 32,265 shares of the company’s stock worth $404,000 after purchasing an additional 11,856 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Carter Bankshares by 64.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,703 shares of the company’s stock worth $84,000 after purchasing an additional 2,628 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Carter Bankshares by 16.7% in the 4th quarter. SG Americas Securities LLC now owns 12,407 shares of the company’s stock valued at $186,000 after acquiring an additional 1,776 shares in the last quarter. FMR LLC raised its holdings in shares of Carter Bankshares by 24.5% in the 1st quarter. FMR LLC now owns 6,205 shares of the company’s stock valued at $87,000 after acquiring an additional 1,223 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Carter Bankshares by 113.7% in the 2nd quarter. Royal Bank of Canada now owns 2,883 shares of the company’s stock valued at $42,000 after acquiring an additional 1,534 shares in the last quarter. Hedge funds and other institutional investors own 41.48% of the company’s stock.

Carter Bankshares Stock Performance

Shares of CARE opened at $11.15 on Wednesday. The stock’s 50-day simple moving average is $12.82 and its 200 day simple moving average is $13.02. The stock has a market capitalization of $256.67 million, a price-to-earnings ratio of 11.26 and a beta of 0.94. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.93 and a current ratio of 0.93. Carter Bankshares has a 52-week low of $10.43 and a 52-week high of $16.74.

Carter Bankshares (NASDAQ:CARE) last issued its quarterly earnings data on Thursday, January 25th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.19). The company had revenue of $30.67 million for the quarter, compared to analysts’ expectations of $32.62 million. Carter Bankshares had a return on equity of 7.49% and a net margin of 10.89%. Research analysts forecast that Carter Bankshares will post 1.83 EPS for the current fiscal 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.