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 Carter Bankshares stock in a transaction on Monday, June 9th. The stock was sold at an average price of $16.52, for a total transaction of $16,520.00. Following the completion of the transaction, the director now owns 22,556 shares in the company, valued at approximately $372,625.12. The trade was a 4.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Carter Bankshares Trading Up 0.4%

Shares of CARE traded up $0.06 during trading hours on Monday, hitting $16.30. The company had a trading volume of 117,263 shares, compared to its average volume of 74,764. Carter Bankshares, Inc. has a 52-week low of $11.96 and a 52-week high of $20.40. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23. The stock's 50 day moving average price is $15.63 and its 200 day moving average price is $16.72. The firm has a market cap of $377.52 million, a P/E ratio of 15.38 and a beta of 0.77.

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 (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. The business had revenue of $37.22 million for the quarter, compared to analyst estimates of $34.90 million. On average, research analysts predict that Carter Bankshares, Inc. will post 1.26 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Strs Ohio purchased a new stake in Carter Bankshares during the 1st quarter valued at $340,000. Acadian Asset Management LLC boosted its holdings in shares of Carter Bankshares by 7.6% during the first quarter. Acadian Asset Management LLC now owns 82,105 shares of the company's stock worth $1,327,000 after purchasing an additional 5,797 shares during the period. Mendon Capital Advisors Corp increased its holdings in Carter Bankshares by 7.8% during the 1st quarter. Mendon Capital Advisors Corp now owns 69,117 shares of the company's stock valued at $1,118,000 after purchasing an additional 5,000 shares during the period. Jane Street Group LLC bought a new position in Carter Bankshares during the 1st quarter valued at approximately $585,000. Finally, Empowered Funds LLC raised its position in Carter Bankshares by 7.3% during the 1st quarter. Empowered Funds LLC now owns 90,725 shares of the company's stock valued at $1,468,000 after purchasing an additional 6,157 shares during the last quarter. 41.48% of the stock is owned by hedge funds and other institutional investors.

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.