Rhumbline Advisers Decreases Stock Holdings in Carter Bankshares, Inc. (NASDAQ:CARE)

Rhumbline Advisers decreased its holdings in shares of Carter Bankshares, Inc. (NASDAQ:CARE - Free Report) by 30.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,981 shares of the company's stock after selling 15,656 shares during the period. 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 have also recently made changes to their positions in the company. Invesco Ltd. lifted its holdings in Carter Bankshares by 1.7% in the 4th quarter. Invesco Ltd. now owns 38,142 shares of the company's stock valued at $671,000 after purchasing an additional 643 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Carter Bankshares by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 65,616 shares of the company's stock valued at $1,154,000 after purchasing an additional 1,790 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Carter Bankshares by 11.3% in the 4th quarter. Wells Fargo & Company MN now owns 28,696 shares of the company's stock valued at $505,000 after purchasing an additional 2,917 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in Carter Bankshares by 2.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 145,053 shares of the company's stock valued at $2,551,000 after purchasing an additional 4,093 shares in the last quarter. Hedge funds and other institutional investors own 41.48% of the company's stock.

Insider Buying and Selling at Carter Bankshares

In other news, Director Kevin S. Bloomfield sold 4,509 shares of Carter Bankshares stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $16.71, for a total transaction of $75,345.39. Following the transaction, the director now owns 18,047 shares in the company, valued at $301,565.37. The trade was a 19.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have sold 7,138 shares of company stock worth $119,249. Corporate insiders own 1.86% of the company's stock.

Carter Bankshares Trading Down 1.1%

Shares of CARE stock opened at $16.45 on Monday. The stock's fifty day moving average is $15.84 and its two-hundred day moving average is $16.64. 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 market capitalization of $380.98 million, a P/E ratio of 13.71 and a beta of 0.77. Carter Bankshares, Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $20.40.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.02. The company had revenue of $37.22 million for the quarter, compared to analyst estimates of $34.90 million. Carter Bankshares had a return on equity of 6.70% and a net margin of 11.20%. Research analysts expect that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding CARE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Carter Bankshares, Inc. (NASDAQ:CARE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.