Invesco Ltd. Sells 5,067 Shares of Carter Bankshares, Inc. $CARE

Invesco Ltd. cut its stake in shares of Carter Bankshares, Inc. (NASDAQ:CARE) by 13.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,075 shares of the company’s stock after selling 5,067 shares during the quarter. Invesco Ltd. owned approximately 0.14% of Carter Bankshares worth $535,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BNP Paribas Financial Markets bought a new position in shares of Carter Bankshares during the 4th quarter valued at approximately $196,000. 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 valued at $224,000 after acquiring an additional 765 shares during the period. Man Group plc bought a new position in shares of Carter Bankshares during the 4th quarter valued at approximately $228,000. Deutsche Bank AG lifted its holdings in Carter Bankshares by 88.6% in the 4th quarter. Deutsche Bank AG now owns 15,863 shares of the company’s stock worth $279,000 after purchasing an additional 7,452 shares in the last quarter. Finally, Bailard Inc. purchased a new position in Carter Bankshares in the 1st quarter worth approximately $301,000. 41.48% of the stock is currently owned by institutional investors.

Carter Bankshares Stock Down 0.5%

NASDAQ CARE opened at $19.50 on Friday. The stock’s 50 day moving average is $18.26 and its 200 day moving average is $16.82. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.28. Carter Bankshares, Inc. has a 12 month low of $13.60 and a 12 month high of $20.40. The stock has a market cap of $442.07 million, a PE ratio of 14.34 and a beta of 0.86.

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

Insider Buying and Selling

In related news, Director Kevin S. Bloomfield sold 4,509 shares of the business’s stock in a transaction that occurred 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 directly owned 18,047 shares of the company’s stock, valued at approximately $301,565.37. The trade was a 19.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Catharine L. Midkiff sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $17.76, for a total value of $35,520.00. Following the completion of the transaction, the director directly owned 16,054 shares in the company, valued at approximately $285,119.04. This represents a 11.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,138 shares of company stock worth $154,769. 2.18% of the stock is owned by insiders.

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.