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

Carter Bankshares, Inc. (NASDAQ:CARE - Get Free Report) Director Kevin S. Bloomfield sold 4,509 shares of the firm'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. This represents a 19.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Carter Bankshares Price Performance

CARE traded down $0.45 during trading on Friday, reaching $16.24. The company's stock had a trading volume of 101,266 shares, compared to its average volume of 74,444. 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 firm has a fifty day simple moving average of $15.63 and a two-hundred day simple moving average of $16.75. Carter Bankshares, Inc. has a 1 year low of $11.96 and a 1 year high of $20.40. The company has a market cap of $376.13 million, a price-to-earnings ratio of 15.32 and a beta of 0.77.

Carter Bankshares (NASDAQ:CARE - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.32 earnings per share for the quarter, topping analysts' consensus estimates of $0.30 by $0.02. Carter Bankshares had a net margin of 10.09% and a return on equity of 6.50%. The business had revenue of $37.22 million for the quarter, compared to analyst estimates of $34.90 million. As a group, analysts anticipate that Carter Bankshares, Inc. will post 1.26 EPS for the current year.

Institutional Trading of Carter Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in CARE. Global Retirement Partners LLC acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $77,000. BNP Paribas Financial Markets acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $196,000. MetLife Investment Management LLC increased its holdings 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 worth $224,000 after buying an additional 765 shares during the last quarter. Prudential Financial Inc. acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $227,000. Finally, Man Group plc acquired a new stake in shares of Carter Bankshares during the 4th quarter worth approximately $228,000. Institutional investors and hedge funds 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.