Catharine L. Midkiff Sells 2,000 Shares of Carter Bankshares, Inc. (NASDAQ:CARE) Stock

Key Points

• Carter Bankshares, Inc. Director Catharine L. Midkiff sold 2,000 shares at an average price of $17.76, reducing her stake by 11.08% to 16,054 shares.
• The company's stock price decreased by 1.1% to $17.44 following the sale, with a market capitalization of $403.91 million.
• Carter Bankshares reported earnings of $0.41 per share, surpassing analyst expectations of $0.31, with a strong net margin of 12.58%.

Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) Director Catharine L. Midkiff sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $17.76, for a total transaction of $35,520.00. Following the completion of the transaction, the director owned 16,054 shares of the company's stock, valued at $285,119.04. This trade represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Carter Bankshares Price Performance

Shares of CARE stock traded down $0.44 during trading hours on Friday, reaching $16.94. The stock had a trading volume of 79,510 shares, compared to its average volume of 76,214. The stock's fifty day simple moving average is $17.27 and its 200 day simple moving average is $16.66. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. Carter Bankshares, Inc. has a 12 month low of $13.60 and a 12 month high of $20.40. The firm has a market capitalization of $392.33 million, a PE ratio of 12.46 and a beta of 0.82.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.10. Carter Bankshares had a net margin of 12.58% and a return on equity of 7.76%. The company had revenue of $37.44 million during the quarter, compared to analyst estimates of $37.33 million. On average, equities research analysts predict that Carter Bankshares, Inc. will post 1.26 EPS for the current year.

Institutional Investors Weigh In On Carter Bankshares

A number of hedge funds have recently made changes to their positions in CARE. CWM LLC increased its position in Carter Bankshares by 64.1% during the 2nd quarter. CWM LLC now owns 2,171 shares of the company's stock valued at $38,000 after purchasing an additional 848 shares during the period. BNP Paribas Financial Markets purchased a new stake in shares of Carter Bankshares during the 4th quarter valued at about $196,000. MetLife Investment Management LLC increased its position in shares of Carter Bankshares by 6.4% during 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 last quarter. Prudential Financial Inc. purchased a new stake in Carter Bankshares in the 4th quarter worth approximately $227,000. Finally, Man Group plc purchased a new stake in Carter Bankshares in the 4th quarter worth approximately $228,000. 41.48% of the stock is currently owned by 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.