Carter Bankshares director Midkiff buys $3,294 in stock

Catharine L. Midkiff, a director at Carter Bankshares, Inc. (NASDAQ:CARE), recently purchased 200 shares of the company’s common stock. The transaction, which took place on June 2, 2025, involved shares bought at a price of $16.47 each, totaling approximately $3,294. Following this acquisition, Midkiff’s total direct and indirect ownership stands at 18,054 shares. The purchase was made by her spouse, as noted in the filing.The $387 million market cap regional bank has shown strong performance, with shares up over 30% in the past year. According to InvestingPro data, analysts have set price targets between $21-22, suggesting potential upside from current levels. The stock trades at a modest P/E ratio of 13.8x and has maintained profitability over the last twelve months.For deeper insights into CARE’s valuation and growth prospects, InvestingPro subscribers can access the comprehensive Pro Research Report, which includes detailed financial analysis and expert commentary among 12+ exclusive investing tips for this stock.

In other recent news, Carter Bankshares, Inc. announced the results of its 2025 Annual Meeting of Shareholders, where 11 directors were elected to serve until the next meeting. The company also reported that a proposal to ratify Crowe LLP as independent auditors for the fiscal year ending December 31, 2025, was approved by shareholders. Additionally, Carter Bankshares unveiled a $20 million share repurchase program, allowing the company to buy back its common stock through various methods until May 14, 2026. This initiative is part of the bank’s broader financial strategies and reflects its capital allocation decisions. The board retains the discretion to alter or halt the program, which does not obligate the purchase of a specific number of shares. Furthermore, board member E. Warren Matthews announced his retirement and will not seek re-election, leading to a planned reduction of the board from 12 to 11 members. This change is part of the company’s ongoing board governance adjustments. These developments are based on recent SEC filings by Carter Bankshares.

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