Carter Bankshares (NASDAQ:CARE) Director Sells $32,754.23 in Stock

Carter Bankshares, Inc. (NASDAQ:CARE) Director Robert Bolton sold 1,901 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $17.23, for a total value of $32,754.23. Following the completion of the sale, the director directly owned 10,827 shares in the company, valued at $186,549.21. This trade represents a 14.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Carter Bankshares Stock Up 0.1%

Carter Bankshares stock traded up $0.03 during mid-day trading on Monday, hitting $17.11. The company had a trading volume of 28,152 shares, compared to its average volume of 78,294. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average price is $19.18 and its two-hundred day moving average price is $17.69. Carter Bankshares, Inc. has a 12 month low of $13.60 and a 12 month high of $20.53. The company has a market capitalization of $387.77 million, a PE ratio of 12.55 and a beta of 0.83.

Carter Bankshares (NASDAQ:CARE) last released its earnings results on Thursday, October 23rd. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.13). Carter Bankshares had a return on equity of 7.72% and a net margin of 12.37%.The company had revenue of $39.25 million during the quarter, compared to the consensus estimate of $39.20 million. As a group, sell-side analysts anticipate that Carter Bankshares, Inc. will post 1.26 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CARE. Nuveen LLC bought a new position in Carter Bankshares in the first quarter valued at about $9,020,000. Fourthstone LLC lifted its holdings in Carter Bankshares by 31.5% in the second quarter. Fourthstone LLC now owns 583,893 shares of the company’s stock valued at $10,125,000 after acquiring an additional 139,960 shares during the period. Diversified Trust Co bought a new position in Carter Bankshares in the second quarter valued at about $2,325,000. Curi Capital LLC lifted its holdings in Carter Bankshares by 388.0% in the second quarter. Curi Capital LLC now owns 93,295 shares of the company’s stock valued at $1,618,000 after acquiring an additional 74,178 shares during the period. Finally, Mendon Capital Advisors Corp lifted its holdings in Carter Bankshares by 106.0% in the second quarter. Mendon Capital Advisors Corp now owns 142,392 shares of the company’s stock valued at $2,469,000 after acquiring an additional 73,275 shares during the period. Institutional investors own 41.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CARE. Weiss Ratings raised Carter Bankshares from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, October 24th. Raymond James Financial set a $22.00 price target on Carter Bankshares and gave the company an “outperform” rating in a report on Tuesday, October 7th. Finally, Zacks Research downgraded Carter Bankshares from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 28th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Carter Bankshares has a consensus rating of “Hold” and a consensus target price of $22.00.

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.