Carter Bank and Trust (NASDAQ:CARE) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 794,700 shares, a decline of 12.7% from the July 31st total of 910,800 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average trading volume of 130,400 shares, the days-to-cover ratio is currently 6.1 days.

A number of equities analysts recently commented on the company. DA Davidson reiterated a “neutral” rating on shares of Carter Bank and Trust in a report on Monday, July 22nd. Zacks Investment Research upgraded Carter Bank and Trust from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a report on Friday, August 9th. Finally, BTIG Research upgraded Carter Bank and Trust from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a report on Wednesday, August 14th.

A number of institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in shares of Carter Bank and Trust in the second quarter valued at approximately $37,000. Tower Research Capital LLC TRC purchased a new stake in Carter Bank and Trust during the second quarter valued at approximately $45,000. Strs Ohio purchased a new stake in Carter Bank and Trust during the second quarter valued at approximately $118,000. JPMorgan Chase & Co. purchased a new stake in Carter Bank and Trust during the second quarter valued at approximately $122,000. Finally, Morgan Stanley increased its holdings in Carter Bank and Trust by 16.7% during the second quarter. Morgan Stanley now owns 7,252 shares of the company’s stock valued at $144,000 after buying an additional 1,040 shares during the last quarter. Institutional investors and hedge funds own 23.74% of the company’s stock.

Carter Bank and Trust stock traded down $0.05 during midday trading on Friday, reaching $19.41. 3,488 shares of the company’s stock were exchanged, compared to its average volume of 28,588. Carter Bank and Trust has a 52 week low of $14.45 and a 52 week high of $21.14. The firm has a 50-day moving average price of $19.18.

Carter Bank and Trust Company Profile

Carter Bank & Trust provides a range of retail and commercial banking products and services in Virginia and North Carolina. It accepts checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposit. The company also offers loans, such as secured and unsecured commercial loans; secured and unsecured consumer loans for financing automobiles, home improvements, education, and personal investments; real estate construction and acquisition loans; and fixed and variable rate mortgage loans.

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