Carter Bankshares (NASDAQ:CARE) Trading 2% Higher - Should You Buy?

Shares of Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) shot up 2% on Monday . The company traded as high as $18.36 and last traded at $18.35. 79,391 shares changed hands during trading, an increase of 4% from the average session volume of 76,283 shares. The stock had previously closed at $17.99.

Carter Bankshares Price Performance

The stock has a fifty day moving average of $16.68 and a two-hundred day moving average of $16.59. 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 stock has a market capitalization of $424.99 million, a price-to-earnings ratio of 15.29 and a beta of 0.77.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. Carter Bankshares had a return on equity of 6.70% and a net margin of 11.20%. The company had revenue of $37.22 million for the quarter, compared to analysts' expectations of $34.90 million. As a group, equities research analysts forecast that Carter Bankshares, Inc. will post 1.26 earnings per share for the current year.

Insiders Place Their Bets

In other Carter Bankshares news, Director Kevin S. Bloomfield sold 1,629 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $16.81, for a total value of $27,383.49. Following the completion of the transaction, the director directly owned 16,418 shares of the company's stock, valued at approximately $275,986.58. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 7,138 shares of company stock valued at $119,249. Company insiders own 1.86% of the company's stock.

Hedge Funds Weigh In On Carter Bankshares

Several hedge funds have recently added to or reduced their stakes in CARE. BNP Paribas Financial Markets bought a new stake in shares of Carter Bankshares during the 4th quarter valued at $196,000. MetLife Investment Management LLC grew its stake in shares of Carter Bankshares by 6.4% during the fourth 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. bought a new stake in Carter Bankshares in the fourth quarter valued at about $227,000. Man Group plc acquired a new position in Carter Bankshares in the fourth quarter valued at about $228,000. Finally, Curi RMB Capital LLC acquired a new position in Carter Bankshares in the fourth quarter valued at about $248,000. Institutional investors 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.

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