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Jane Ann Davis, the Executive Vice President and Chief Administrative Officer of Carter Bankshares, Inc. (NASDAQ:CARE), recently sold 2,500 shares of the company’s common stock. The transaction, which occurred on June 5, 2025, was executed at a price of $16.3944 per share, totaling approximately $40,986. The sale price aligns closely with the current market value of $16.43, with analysts setting price targets between $21-22, suggesting potential upside. The $380.5M market cap company maintains a "FAIR" financial health rating according to InvestingPro, which offers comprehensive analysis and additional insights through its detailed Pro Research Report. Following this sale, Davis retains ownership of 11,800 shares of Carter Bankshares.
In other recent news, Carter Bankshares, Inc. reported the results of its 2025 Annual Meeting of Shareholders, where 11 directors were elected to serve until the next meeting. The shareholders also approved a non-binding advisory vote on executive compensation and ratified Crowe LLP as the independent auditors for the fiscal year ending December 31, 2025. Additionally, Carter Bankshares announced a new share repurchase program, allowing the company to buy back up to $20 million of its common stock until May 14, 2026. This initiative will be carried out through open market transactions or privately negotiated deals, with the possibility of utilizing trading plans under Rule 10b5-1 and Rule 10b-18. The program does not obligate the company to purchase a specific number of shares and can be altered or terminated by the Board at any time. Furthermore, board member E. Warren Matthews will retire and not seek re-election at the next Annual Meeting, prompting the board to reduce its size from 12 to 11 members. Carter Bankshares confirmed that Mr. Matthews’ retirement is not due to any disagreements with the company’s operations or policies. These developments reflect ongoing strategic decisions and governance changes within Carter Bankshares.
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