Carter Bankshares (NASDAQ:CARE) Director Elizabeth Walsh Buys 4,575 Shares

Key Points

• Director Elizabeth Walsh purchased 4,575 shares on May 6 at an average price of $26.20 (total $119,865), raising her holdings to 58,753 shares — an 8.44% increase in her position.
• The stock trades near $26.25 (12‑month range $15.40–$26.58) with a $581.7M market cap and a PE of 5.39; the company reported Q1 EPS of $0.40 (missed $0.49) and declared a quarterly dividend of $0.10 (1.5% yield).
• Analysts have a consensus rating of Buy with a $27.50 target, and institutional investors hold about 41.5% of the shares with several funds recently increasing positions.

Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) Director Elizabeth Walsh purchased 4,575 shares of the business's stock in a transaction dated Wednesday, May 6th. The shares were purchased at an average cost of $26.20 per share, with a total value of $119,865.00. Following the acquisition, the director owned 58,753 shares in the company, valued at $1,539,328.60. This trade represents a 8.44% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.

Carter Bankshares Price Performance

NASDAQ:CARE traded up $0.08 during mid-day trading on Thursday, reaching $26.25. The stock had a trading volume of 73,508 shares, compared to its average volume of 222,069. Carter Bankshares, Inc. has a 12 month low of $15.40 and a 12 month high of $26.58. The stock has a market capitalization of $581.70 million, a PE ratio of 5.39 and a beta of 0.51. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.93. The stock has a 50-day simple moving average of $22.54 and a two-hundred day simple moving average of $20.57.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last issued its earnings results on Thursday, April 23rd. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.09). Carter Bankshares had a net margin of 33.60% and a return on equity of 7.93%. The business had revenue of $106.91 million during the quarter, compared to analyst estimates of $42.47 million. On average, equities analysts anticipate that Carter Bankshares, Inc. will post 1.96 earnings per share for the current year.

Carter Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 25th. Stockholders of record on Monday, May 11th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, May 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. increased its position in shares of Carter Bankshares by 98.3% during the fourth quarter. Federated Hermes Inc. now owns 1,626 shares of the company's stock worth $32,000 after buying an additional 806 shares during the period. Geneos Wealth Management Inc. grew its holdings in Carter Bankshares by 140.6% during the 2nd quarter. Geneos Wealth Management Inc. now owns 2,625 shares of the company's stock worth $46,000 after acquiring an additional 1,534 shares during the period. State of Alaska Department of Revenue raised its position in shares of Carter Bankshares by 243.2% in the 4th quarter. State of Alaska Department of Revenue now owns 3,233 shares of the company's stock worth $63,000 after acquiring an additional 2,291 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Carter Bankshares by 113.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,776 shares of the company's stock valued at $65,000 after purchasing an additional 2,008 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Carter Bankshares by 44.7% during the 3rd quarter. New York State Common Retirement Fund now owns 4,531 shares of the company's stock valued at $88,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 41.48% of the company's stock.

Analysts Set New Price Targets

CARE has been the topic of a number of research reports. Hovde Group boosted their target price on shares of Carter Bankshares from $27.00 to $28.00 and gave the stock an "outperform" rating in a research note on Friday, April 24th. Weiss Ratings raised Carter Bankshares from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 9th. Wall Street Zen raised Carter Bankshares from a "sell" rating to a "hold" rating in a research note on Saturday, January 31st. Raymond James Financial reaffirmed an "outperform" rating and issued a $27.00 price objective on shares of Carter Bankshares in a research note on Monday, April 27th. Finally, Zacks Research raised shares of Carter Bankshares from a "strong sell" rating to a "hold" rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Carter Bankshares has a consensus rating of "Buy" and a consensus target price of $27.50.

Carter Bankshares Company Profile

Carter Bankshares, Inc is a bank holding company headquartered in Suffolk, Virginia, operating primarily through its subsidiary, Carter Bank & Trust. The company offers a full range of commercial and retail banking services, serving individuals, small and mid-sized businesses, and nonprofit organizations. Its financial products are designed to meet the needs of local customers across southeastern Virginia and northeastern North Carolina.

Carter Bank & Trust provides deposit accounts, including checking, savings and money market products, as well as certificates of deposit.

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