Carter Bankshares, Inc. (NASDAQ:CARE) Director Sells $35,520.00 in 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 business'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 value of $35,520.00. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Carter Bankshares Trading Down 2.5%

Shares of NASDAQ CARE 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 company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.14. The firm has a market cap of $392.33 million, a price-to-earnings ratio of 12.46 and a beta of 0.82. The business's fifty day moving average price is $17.27 and its two-hundred day moving average price is $16.67. Carter Bankshares, Inc. has a 52-week low of $13.60 and a 52-week high of $20.40.

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

Institutional Trading of Carter Bankshares

A number of large investors have recently modified their holdings of CARE. Nuveen LLC purchased a new stake in Carter Bankshares during the first quarter worth $9,020,000. Fourthstone LLC lifted its holdings in Carter Bankshares by 100.7% during the fourth quarter. Fourthstone LLC now owns 551,013 shares of the company's stock worth $9,692,000 after buying an additional 276,532 shares during the period. Diversified Trust Co purchased a new stake in Carter Bankshares during the second quarter worth $2,325,000. Kennedy Capital Management LLC lifted its holdings in Carter Bankshares by 27.9% during the fourth quarter. Kennedy Capital Management LLC now owns 324,569 shares of the company's stock worth $5,709,000 after buying an additional 70,836 shares during the period. Finally, Mendon Capital Advisors Corp purchased a new stake in Carter Bankshares during the fourth quarter worth $1,128,000. Hedge funds and other institutional investors own 41.48% of the company's stock.

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.