Rhumbline Advisers Has $566,000 Stock Position in Carter Bankshares, Inc. (NASDAQ:CARE)

Rhumbline Advisers trimmed its holdings in Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) by 30.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,981 shares of the company's stock after selling 15,656 shares during the quarter. Rhumbline Advisers owned about 0.15% of Carter Bankshares worth $566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of Carter Bankshares in the 4th quarter valued at about $77,000. BNP Paribas Financial Markets acquired a new position in shares of Carter Bankshares in the 4th quarter valued at about $196,000. MetLife Investment Management LLC lifted its stake in shares of Carter Bankshares by 6.4% in the 4th 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 shares of Carter Bankshares in the 4th quarter valued at about $227,000. Finally, Man Group plc acquired a new position in shares of Carter Bankshares in the 4th quarter valued at about $228,000. 41.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kevin S. Bloomfield sold 1,629 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $16.81, for a total transaction of $27,383.49. Following the transaction, the director now directly owns 16,418 shares of the company's stock, valued at approximately $275,986.58. This represents a 9.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In 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 company insiders.

Carter Bankshares Trading Up 1.9%

Shares of NASDAQ:CARE traded up $0.32 during midday trading on Thursday, reaching $17.47. The company's stock had a trading volume of 89,088 shares, compared to its average volume of 76,641. The firm has a market capitalization of $404.61 million, a price-to-earnings ratio of 14.56 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 firm has a 50 day moving average price of $16.00 and a two-hundred day moving average price of $16.63. Carter Bankshares, Inc. has a fifty-two week low of $13.61 and a fifty-two week high of $20.40.

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