BlackRock Amends Carter Bankshares Stake, Maintains Significant Holding
Ticker: CARE · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 1829576
| Field | Detail |
|---|---|
| Company | Carter Bankshares, Inc. (CARE) |
| Form Type | SC 13G/A |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**BlackRock still owns a big chunk of Carter Bankshares, signaling institutional confidence.**
AI Summary
BlackRock, Inc. filed an amended SC 13G/A on January 26, 2024, indicating its ownership of Carter Bankshares, Inc. common stock as of December 31, 2023. This filing, an amendment to a previous disclosure, shows BlackRock continues to be a significant institutional holder in Carter Bankshares. For investors, this matters because BlackRock's continued substantial stake signals confidence from a major institutional investor, which can be a positive indicator for the stock's stability and long-term outlook.
Why It Matters
BlackRock's continued substantial ownership in Carter Bankshares, Inc. provides a vote of confidence from a major institutional investor, potentially reassuring other shareholders about the company's stability.
Risk Assessment
Risk Level: low — This filing indicates stable institutional ownership, which generally reduces volatility and risk for the stock.
Analyst Insight
Investors should note BlackRock's continued presence as a major shareholder, which suggests a degree of institutional confidence in Carter Bankshares, but this filing alone doesn't indicate any new strategic moves.
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- Carter Bankshares, Inc. (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring this filing
- January 26, 2024 (date) — the filing date of the SC 13G/A amendment
- 146103106 (number) — the CUSIP number for Carter Bankshares, Inc. Common Stock
Forward-Looking Statements
- BlackRock will maintain a significant, passive stake in Carter Bankshares for the foreseeable future. (BlackRock, Inc.) — high confidence, target: December 31, 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by 'FORM TYPE: SC 13G/A' and '(Amendment No: 2)' in the filing.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., as stated under '(1)Names of reporting persons. BlackRock, Inc.' in the filing.
What is the subject company whose shares are being reported?
The subject company is Carter Bankshares, Inc., identified as the 'Name of Issuer' and under 'COMPANY CONFORMED NAME: Carter Bankshares, Inc.' in the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The date of the event which requires this filing was December 31, 2023, as explicitly stated in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), indicated by the '[X] Rule 13d-1(b)' checkbox selection in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding Carter Bankshares, Inc. (CARE).