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Kevin S. Bloomfield, a director at Carter Bankshares, Inc. (NASDAQ:CARE), recently sold 4,509 shares of the company’s common stock. The shares were sold on June 11, 2025, at a price of $16.7149 per share, amounting to a total transaction value of $75,367. Following this sale, Bloomfield holds 18,047 shares directly in the company.The transaction comes as Carter Bankshares, with a market capitalization of $383 million, trades at a P/E ratio of 13.8 and has delivered a strong 35% return over the past year. According to InvestingPro analysis, the stock is currently trading slightly above its Fair Value, with analyst price targets ranging from $21 to $22. InvestingPro subscribers have access to 6 additional key insights about CARE, including detailed valuation metrics and comprehensive Pro Research Reports that transform complex Wall Street data into actionable intelligence.
In other recent news, Carter Bankshares, Inc. announced the results of its 2025 Annual Meeting of Shareholders. The company confirmed the election of 11 directors, with Michael R. Bird, Kevin S. Bloomfield, and others serving until the next annual meeting. Additionally, a proposal to ratify Crowe LLP as independent auditors for the fiscal year ending December 31, 2025, was approved. In a separate development, Carter Bankshares revealed a $20 million share repurchase program, which will be active until May 14, 2026. This initiative allows the company to buy back shares through open market transactions or privately negotiated deals. The program’s execution will depend on various factors, including market conditions and the company’s financial health. Furthermore, the company announced the retirement of board member E. Warren Matthews, who will not seek re-election. Following his departure, the board will reduce its size from 12 to 11 members.
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