Bailard Inc. Invests $301,000 in Carter Bankshares, Inc. (NASDAQ:CARE)

Bailard Inc. purchased a new stake in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 18,627 shares of the company's stock, valued at approximately $301,000. Bailard Inc. owned about 0.08% of Carter Bankshares as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BNP Paribas Financial Markets acquired a new position in Carter Bankshares during the fourth quarter worth $196,000. MetLife Investment Management LLC lifted its position in 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 acquiring an additional 765 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Carter Bankshares in the 4th quarter valued at approximately $227,000. Man Group plc purchased a new position in Carter Bankshares during the fourth quarter worth $228,000. Finally, Curi RMB Capital LLC acquired a new stake in shares of Carter Bankshares during the fourth quarter worth $248,000. 41.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Kevin S. Bloomfield sold 4,509 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $16.71, for a total transaction of $75,345.39. Following the completion of the transaction, the director directly owned 18,047 shares in the company, valued at $301,565.37. This represents a 19.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Over the last three months, insiders have sold 7,138 shares of company stock valued at $119,249. 2.18% of the stock is owned by insiders.

Carter Bankshares Trading Up 1.5%

Carter Bankshares stock traded up $0.27 during midday trading on Thursday, reaching $18.08. The stock had a trading volume of 35,178 shares, compared to its average volume of 74,461. Carter Bankshares, Inc. has a twelve month low of $13.60 and a twelve month high of $20.40. The stock has a market capitalization of $418.62 million, a PE ratio of 15.05 and a beta of 0.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.88 and a current ratio of 0.88. The stock's 50-day simple moving average is $17.01 and its 200 day simple moving average is $16.63.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.10. Carter Bankshares had a return on equity of 6.70% and a net margin of 11.20%. Analysts expect that Carter Bankshares, Inc. will post 1.26 EPS for the current year.

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.