Carter Bankshares, Inc. (NASDAQ:CARE) Director Sells $16,520.00 in Stock

Carter Bankshares, Inc. (NASDAQ:CARE) Director Kevin S. Bloomfield sold 1,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $16.52, for a total transaction of $16,520.00. Following the completion of the transaction, the director now directly owns 22,556 shares of the company’s stock, valued at $372,625.12. The trade was a 4.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Carter Bankshares Stock Performance

Shares of Carter Bankshares stock opened at $16.24 on Monday. Carter Bankshares, Inc. has a 52 week low of $11.96 and a 52 week high of $20.40. The company has a 50 day moving average price of $15.63 and a 200 day moving average price of $16.72. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $376.13 million, a P/E ratio of 15.32 and a beta of 0.77.

Carter Bankshares (NASDAQ:CARE) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. The company had revenue of $37.22 million for the quarter, compared to the consensus estimate of $34.90 million. Sell-side analysts expect that Carter Bankshares, Inc. will post 1.26 EPS for the current year.

Institutional Investors Weigh In On Carter Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in CARE. Global Retirement Partners LLC acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $77,000. BNP Paribas Financial Markets acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $196,000. MetLife Investment Management LLC grew its stake in shares of Carter Bankshares by 6.4% during the 4th quarter. MetLife Investment Management LLC now owns 12,711 shares of the company’s stock worth $224,000 after purchasing an additional 765 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $227,000. Finally, Man Group plc acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $228,000. Institutional investors and hedge funds own 41.48% of the company’s stock.

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.