Vanguard Group Inc. Acquires 15,221 Shares of Carter Bankshares, Inc. $CARE

Vanguard Group Inc. raised its holdings in Carter Bankshares, Inc. (NASDAQ:CARE) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,292,161 shares of the company’s stock after purchasing an additional 15,221 shares during the quarter. Vanguard Group Inc. owned 5.58% of Carter Bankshares worth $20,907,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of CARE. Wells Fargo & Company MN grew its stake in Carter Bankshares by 11.3% in the 4th quarter. Wells Fargo & Company MN now owns 28,696 shares of the company’s stock valued at $505,000 after purchasing an additional 2,917 shares during the period. Invesco Ltd. grew its stake in Carter Bankshares by 1.7% in the 4th quarter. Invesco Ltd. now owns 38,142 shares of the company’s stock valued at $671,000 after purchasing an additional 643 shares during the period. Barclays PLC grew its stake in shares of Carter Bankshares by 15.1% during the 4th quarter. Barclays PLC now owns 34,303 shares of the company’s stock worth $603,000 after acquiring an additional 4,490 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Carter Bankshares by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,015,988 shares of the company’s stock worth $17,871,000 after acquiring an additional 51,987 shares during the period. Finally, MetLife Investment Management LLC grew its stake 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 acquiring an additional 765 shares during the period. Institutional investors own 41.48% of the company’s stock.

Insider Buying and Selling at Carter Bankshares

In other news, Director Catharine L. Midkiff sold 2,000 shares of the stock in a transaction on Wednesday, July 30th. The stock was 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 in the company, valued at approximately $285,119.04. This represents a 11.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin S. Bloomfield sold 4,509 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $16.71, for a total value of $75,345.39. Following the transaction, the director owned 18,047 shares of the company’s stock, valued at $301,565.37. The trade was a 19.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,138 shares of company stock valued at $154,769 in the last quarter. 2.18% of the stock is owned by corporate insiders.

Carter Bankshares Price Performance

CARE stock opened at $19.46 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market capitalization of $441.16 million, a price-to-earnings ratio of 14.31 and a beta of 0.82. Carter Bankshares, Inc. has a fifty-two week low of $13.60 and a fifty-two week high of $20.40. The stock has a fifty day moving average of $18.04 and a 200-day moving average of $16.77.

Carter Bankshares (NASDAQ:CARE) last posted its quarterly earnings results on Thursday, July 24th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.10. The company had revenue of $37.44 million during the quarter, compared to the consensus estimate of $37.33 million. Carter Bankshares had a return on equity of 7.68% and a net margin of 12.58%. As a group, equities research analysts predict that Carter Bankshares, Inc. will post 1.26 earnings per share for the current year.

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.