Insider Selling: Carter Bankshares, Inc. (NASDAQ:CARE) Director Sells 1,000 Shares of Stock

Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) Director Kevin S. Bloomfield sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $16.52, for a total transaction of $16,520.00. Following the sale, the director now directly owns 22,556 shares of the company's stock, valued at $372,625.12. This trade represents a 4.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Carter Bankshares Stock Down 2.7%

Shares of CARE traded down $0.45 on Friday, hitting $16.24. 101,266 shares of the stock traded hands, compared to its average volume of 74,444. The company has a market capitalization of $376.13 million, a PE ratio of 15.32 and a beta of 0.77. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. The business has a 50 day simple moving average of $15.59 and a 200 day simple moving average of $16.77. Carter Bankshares, Inc. has a one year low of $11.96 and a one year high of $20.40.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. The company had revenue of $37.22 million during the quarter, compared to the consensus estimate of $34.90 million. As a group, equities analysts forecast that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carter Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARE. Nuveen LLC purchased a new stake in Carter Bankshares in the first quarter worth approximately $9,020,000. Fourthstone LLC boosted its holdings in Carter Bankshares by 100.7% in the fourth quarter. Fourthstone LLC now owns 551,013 shares of the company's stock worth $9,692,000 after purchasing an additional 276,532 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in Carter Bankshares by 27.9% in the fourth quarter. Kennedy Capital Management LLC now owns 324,569 shares of the company's stock worth $5,709,000 after purchasing an additional 70,836 shares during the last quarter. Mendon Capital Advisors Corp purchased a new stake in Carter Bankshares in the fourth quarter worth approximately $1,128,000. Finally, JPMorgan Chase & Co. boosted its holdings in Carter Bankshares by 101.1% in the fourth quarter. JPMorgan Chase & Co. now owns 124,453 shares of the company's stock worth $2,189,000 after purchasing an additional 62,574 shares during the last quarter. Hedge funds and other 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.