Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report)'s share price were up 2% during trading on Monday . The company traded as high as $18.36 and last traded at $18.35. Approximately 79,391 shares were traded during trading, an increase of 4% from the average daily volume of 76,283 shares. The stock had previously closed at $17.99.
Carter Bankshares Stock Performance
The stock's 50 day moving average price is $16.82 and its 200 day moving average price is $16.61. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $422.53 million, a price-to-earnings ratio of 15.20 and a beta of 0.77.
Carter Bankshares (NASDAQ:CARE - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. Carter Bankshares had a net margin of 11.20% and a return on equity of 6.70%. The company had revenue of $37.22 million during the quarter, compared to the consensus estimate of $34.90 million. Analysts expect that Carter Bankshares, Inc. will post 1.26 earnings per share for the current year.
Insider Activity at Carter Bankshares
In other news, Director Kevin S. Bloomfield sold 4,509 shares of Carter Bankshares stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $16.71, for a total value of $75,345.39. Following the completion of the transaction, the director owned 18,047 shares of the company's stock, valued at $301,565.37. This trade represents a 19.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have sold 7,138 shares of company stock worth $119,249. Corporate insiders own 2.18% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in shares of Carter Bankshares in the 4th quarter valued at about $335,000. Nuveen Asset Management LLC boosted its holdings in shares of Carter Bankshares by 23.5% during the 4th quarter. Nuveen Asset Management LLC now owns 133,008 shares of the company's stock worth $2,340,000 after buying an additional 25,332 shares during the period. Millennium Management LLC boosted its holdings in shares of Carter Bankshares by 112.1% during the 4th quarter. Millennium Management LLC now owns 92,476 shares of the company's stock worth $1,627,000 after buying an additional 48,869 shares during the period. Bank of America Corp DE boosted its holdings in shares of Carter Bankshares by 31.4% during the 4th quarter. Bank of America Corp DE now owns 30,440 shares of the company's stock worth $535,000 after buying an additional 7,266 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Carter Bankshares by 5.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,988 shares of the company's stock worth $17,871,000 after purchasing an additional 51,987 shares in the last quarter. Institutional investors own 41.48% of the company's stock.
Carter Bankshares Company Profile
(
Get Free Report)
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.
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