Insider Selling: Carter Bankshares, Inc. (NASDAQ:CARE) Director Sells 1,629 Shares of Stock

Carter Bankshares, Inc. (NASDAQ:CARE) Director Kevin S. Bloomfield sold 1,629 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $16.81, for a total value of $27,383.49. Following the completion of the transaction, the director now directly owns 16,418 shares of the company’s stock, valued at approximately $275,986.58. This trade represents a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Carter Bankshares Stock Down 2.7%

CARE opened at $16.24 on Friday. The firm has a market cap of $376.13 million, a P/E ratio of 15.32 and a beta of 0.77. The business’s fifty day simple moving average is $15.63 and its 200 day simple moving average is $16.75. Carter Bankshares, Inc. has a 52 week low of $11.96 and a 52 week high of $20.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23.

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

Institutional Trading of Carter Bankshares

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

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.