Kevin S. Bloomfield Sells 4,509 Shares of Carter Bankshares, Inc. (NASDAQ:CARE) Stock

Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) Director Kevin S. Bloomfield sold 4,509 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $16.71, for a total transaction of $75,345.39. Following the completion of the transaction, the director now directly 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 through the SEC website.

Carter Bankshares Stock Up 0.4%

Carter Bankshares stock traded up $0.06 during mid-day trading on Monday, hitting $16.30. The company had a trading volume of 117,263 shares, compared to its average volume of 74,764. The stock has a market cap of $377.52 million, a price-to-earnings ratio of 15.38 and a beta of 0.77. Carter Bankshares, Inc. has a 1 year low of $11.96 and a 1 year high of $20.40. The business has a fifty day moving average of $15.63 and a 200 day moving average of $16.72. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.23.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $37.22 million during the quarter, compared to the consensus estimate of $34.90 million. Carter Bankshares had a return on equity of 6.50% and a net margin of 10.09%. On average, sell-side analysts expect that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carter Bankshares

Several large investors have recently modified their holdings of the company. Kingsview Wealth Management LLC acquired a new stake in Carter Bankshares in the fourth quarter valued at $635,000. Empowered Funds LLC raised its stake in Carter Bankshares by 5.1% in the 4th quarter. Empowered Funds LLC now owns 84,568 shares of the company's stock valued at $1,488,000 after purchasing an additional 4,093 shares during the last quarter. Rhumbline Advisers grew its holdings in Carter Bankshares by 3.9% in the 4th quarter. Rhumbline Advisers now owns 50,637 shares of the company's stock valued at $891,000 after buying an additional 1,906 shares during the period. Global Retirement Partners LLC purchased a new stake in Carter Bankshares in the 4th quarter valued at about $77,000. Finally, Proficio Capital Partners LLC purchased a new stake in Carter Bankshares in the 4th quarter valued at about $335,000. 41.48% of the stock is owned by institutional investors and hedge funds.

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.