Carter Bankshares director Midkiff disposes of $31,250 in shares

Catharine L. Midkiff, a director at Carter Bankshares, Inc., sold 1,000 shares of the company's common stock on September 11, 2026. The shares were sold at a price of $31.25 each, resulting in a total of $31,250. This sale occurred as Carter Bankshares shares were trading close to $31.24, following a significant 59% increase over the previous year and a 58% rise over the past six months.

After this transaction, Ms. Midkiff personally owns 16,856 shares of Carter Bankshares common stock, with her spouse holding an additional 1,200 shares indirectly. According to InvestingPro analysis, the stock is presently slightly overvalued compared to its Fair Value, although it is trading at a relatively low Price-to-Earnings ratio of 5.42.

Investors can find a detailed analysis and further insights in InvestingPro. Recently, Raymond James downgraded Carter Bank & Trust from an Outperform rating to a Market Perform rating, following a notable 73% year-to-date gain in the company's stock. The valuation of Carter Bank & Trust has now reached 1.5 times its tangible book value, closely mirroring the 1.6 times valuation of its peer banks.

This adjustment in valuation reflects a narrowing of the gap that previously existed. Raymond James' decision to downgrade the rating underscores the significance of monitoring changes in stock ratings within investment strategies. This information can be valuable for investors evaluating the current valuation and market standing of the bank. The downgrade emphasizes the importance of staying informed about such rating changes.