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

Carter Bankshares, Inc. (NASDAQ:CARE) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 533,900 shares, a growth of 35.3% from the June 15th total of 394,500 shares. Based on an average daily volume of 77,800 shares, the days-to-cover ratio is currently 6.9 days. Approximately 2.4% of the shares of the company are sold short.

Institutional Investors Weigh In On Carter Bankshares

Institutional investors have recently added to or reduced their stakes in the stock. CWM LLC acquired a new stake in Carter Bankshares in the 4th quarter valued at $26,000. Concord Wealth Partners acquired a new stake in Carter Bankshares in the 4th quarter valued at $56,000. SG Americas Securities LLC grew its stake in 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 during the period. Black Maple Capital Management LP acquired a new stake in Carter Bankshares in the 1st quarter valued at $293,000. Finally, Strs Ohio grew its stake in Carter Bankshares by 4.5% in the 4th quarter. Strs Ohio now owns 39,100 shares of the company’s stock valued at $585,000 after acquiring an additional 1,700 shares during the period. Institutional investors and hedge funds own 41.48% of the company’s stock.

Carter Bankshares Stock Performance

Shares of NASDAQ CARE traded up $0.53 during midday trading on Monday, reaching $16.22. 79,598 shares of the stock were exchanged, compared to its average volume of 67,462. The firm has a market cap of $373.22 million, a price-to-earnings ratio of 28.28 and a beta of 1.03. Carter Bankshares has a twelve month low of $10.43 and a twelve month high of $16.74. The firm has a 50-day simple moving average of $13.36 and a two-hundred day simple moving average of $13.25. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.86.

Carter Bankshares (NASDAQ:CARE) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.14. The business had revenue of $33.46 million for the quarter, compared to analysts’ expectations of $32.79 million. Carter Bankshares had a net margin of 6.11% and a return on equity of 4.43%. As a group, analysts anticipate that Carter Bankshares will post 0.98 EPS for the current fiscal year.

About Carter Bankshares

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.