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In a recent transaction, Kevin S. Bloomfield, a director at Carter Bankshares, Inc. (NASDAQ:CARE), sold 4,509 shares of the company’s common stock. The shares were sold at an average price of $16.7149 each, amounting to a total sale of approximately $75,367. Following this transaction, Bloomfield holds 18,047 shares of Carter Bankshares. The regional bank, currently valued at $383 million, has seen its stock rise 35% over the past year. According to InvestingPro analysis, the stock is trading close to its Fair Value, with analysts setting price targets between $21-22, suggesting potential upside. InvestingPro data shows the stock trading at an attractive P/E ratio of 13.8, with additional insights available in the comprehensive Pro Research Report covering this and 1,400+ other US stocks.
In other recent news, Carter Bankshares, Inc. has announced the outcomes of its 2025 Annual Meeting of Shareholders, where 11 directors were elected to serve until the next annual meeting. Additionally, shareholders approved a non-binding advisory vote on executive compensation and ratified the appointment of Crowe LLP as the independent auditors for the fiscal year ending December 31, 2025. In a separate development, the company revealed a new share repurchase program, authorizing the buyback of up to $20 million of its common stock. This initiative is set to remain active until May 14, 2026, with purchases determined by various factors, including market conditions and the company’s financial health. Furthermore, Carter Bankshares announced the retirement of board member E. Warren Matthews, who will step down at the upcoming annual meeting. Following his departure, the board will reduce its size from 12 to 11 members. These recent developments highlight Carter Bankshares’ ongoing financial strategies and board governance changes.
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