CARE
Carter Bankshares, Inc.Financial Services·Banks - Regional
$27.30
$607M market cap
Revenue
$194.7M
Free Cash Flow
$309.5M
Rev Growth
+0.0%
FCF Margin
159.0%
P/FCF
2.0x
EV/FCF
1.8x
Fwd EV/EBITDA
--
Fair Value
--
Upside
--
Carter Bankshares, Inc. operates as the bank holding company for Carter Bank & Trust that provides various banking products and services. It accepts various deposit products, including checking, savings, retirement, and money market accounts, as well as longer-term certificates of deposits. The company also offers commercial loans comprising secured and unsecured loans; consumer loans, such as secured and unsecured loans for financing automobiles, home improvements, education, overdraft protecti
2-Year Price History
$27.44+117.6%
Quarterly Financials & Projections
Quarterly Waterfall ($ M)
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Act | 2026-Q1 | 130.2 | 110.0 | 110.0 | 85.8 | 303.9 | 302.4 | -1.5 | 37.0 | 0.0 | 21.9 | 156.3% | 4.7x | -- |
| Act | 2025-Q4 | 64.5 | 11.1 | 11.1 | 8.5 | 12.1 | 7.1 | -5.0 | 488.7 | 178.5 | 21.9 | 10.8% | 0.5x | -- |
Valuation & Metrics
Market Stats
Price$27.30
Market Cap$607M
Enterprise Value$570M
P/S Ratio3.1x
P/FCF2.0x
EV/FCF1.8x
FCF Margin (TTM)159.0%
FCF Yield51.0%
Dividend Yield (TTM)0.4%
Annual Dilution0.0%
CurrencyUSD
TTM Financial Snapshot
Revenue$194.7M
Net Income$94.2M
Free Cash Flow$309.5M
Revenue Growth (YoY)+0.0%
EBITDA Margin62.2%
Net Margin48.4%
FCF Margin159.0%
CapEx % of Revenue3.3%
SBC % of Revenue0.3%
ROIC83.5%
WC Change % Rev-9.3%
Interest Coverage2.5x
Forward Outlook & Risk
Short Interest
Short % of Float--
Short Shares1.0M
Days to Cover2.4
Change (vs Prior)+6.9%
Need at least 2 settlement dates for chart
Employees
Headcount680
Revenue / Employee$286,297
Gross Profit / Employee$269,309
Institutional Ownership
Headline & net flow
NEUTRAL
Net flow · —still filing
No float data — flow unavailable.
Ownership composition
Active
28.3%(+13.2% YoY)
113 filers
hedge / family / endowment
Retail funds
—
Fidelity, Schwab, 401(k)
Passive
20.8%(+6.4% YoY)
9 filers
Vanguard, iShares, SPDR
Market makers
0.3%(-0.0% YoY)
3 filers
Citadel, Susquehanna
Insiders
—
Form 4 — latest per insider
ActiveRetail fundsPassiveMarket makersRetail direct
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $38.9M | $17.31 | −$235K | −$2.2M | -0.2% | $5.69T |
| Fourthstone LLC | $35.0M | $17.28 | +$6.2M | +$24.7M | -1.8% | $590M |
| DIMENSIONAL FUND ADVISORS LPPassive | $27.4M | $15.29 | +$1.2M | +$2.8M | -0.4% | $480.92B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $23.0M | $23.23 | +$22.9M | +$23.0M | — | $4.04T |
| AMERICAN CENTURY COMPANIES INC | $12.6M | $16.79 | +$1.6M | +$4.8M | +0.7% | $193.48B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $12.0M | $15.93 | +$178K | −$377K | +2.3% | $1.61T |
| STATE STREET CORPPassive | $11.6M | $16.31 | −$428K | −$240K | -0.2% | $2.89T |
| KENNEDY CAPITAL MANAGEMENT LLC | $10.5M | $17.18 | +$194K | +$1.9M | -1.5% | $4.72B |
| Petiole USA ltd | $8.9M | $16.25 | −$128K | −$128K | -1.7% | $143M |
| GOLDMAN SACHS GROUP INC | $8.3M | $17.58 | +$1.3M | +$3.4M | -0.2% | $760.93B |
| MALTESE CAPITAL MANAGEMENT LLC | $7.7M | $17.31 | −$1.6M | +$943K | -0.7% | $508M |
| BASSWOOD CAPITAL MANAGEMENT, L.L.C. | $5.3M | $23.23 | +$4.3M | +$5.3M | -0.2% | $1.96B |
| Huber Capital Management LLC | $4.4M | $14.20 | −$12K | −$278K | -0.3% | $647M |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC | $4.4M | $16.97 | −$42K | +$182K | -0.1% | $31.89B |
| NORTHERN TRUST CORPPassive | $4.1M | $16.37 | +$97K | −$316K | -0.2% | $755.34B |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $3.8M | $23.23 | +$3.8M | +$3.8M | — | $1.91T |
| ALGERT GLOBAL LLC | $3.7M | $23.23 | +$3.4M | +$3.7M | — | $6.63B |
| VANGUARD FIDUCIARY TRUST COPassive | $3.4M | $23.23 | +$3.4M | +$3.4M | — | $395.83B |
| Squarepoint Ops LLC | $3.2M | $20.07 | +$1.1M | +$3.2M | +0.4% | $46.27B |
| CITADEL ADVISORS LLC | $3.2M | $17.90 | +$2.1M | −$149K | -0.4% | $138.22B |
Cost basis is a volume-weighted estimate from accumulation periods within our 13F history; holders who built their position before our window started will show a stale basis. % above the cost basis is the unrealized gain at the current price.
Trading behavior
Smart-money alpha (lifetime, %/qtr)BEARISH
Holders
-0.74%
avg per quarter
Holders (ex-self)
-0.78%
excl. this stock
Buyers (this Q)
-0.63%
61 buyers · $0.08B in
Sellers (this Q)
+2.12%
43 sellers · $-0.01B out
alpha coverage: 90% of $ has a lifetime-alpha record
Holder behavior on this stocksource: stock
On big dips (−10%+)
-3.6%
how holders react when this stock falls
On quiet Qs
-10.0%
−10% to +10% baseline
On rallies (+10%+)
+10.3%
how they react when this stock rises
Holders' portfolio flow this Q
+1.1%
inflows — adds are organic
Sellers' portfolio flow this Q
-2.1%
Sellers shed AUM broadly — partly forced.
▸ Compare to holder-profile behavior (across all their stocks)
Holder dip (any stock)
-6.4%
Holder mid (any stock)
-4.2%
Holder rally (any stock)
-5.2%
Biggest decreases this quarter
MALTESE CAPITAL MANAGEMENT LLC−$1.6Mα-0.7ACADIAN ASSET MANAGEMENT LLCexited−$1.3MMARTINGALE ASSET MANAGEMENT L Pexited−$1.2MGSA CAPITAL PARTNERS LLPexited−$617KSALZHAUER MICHAELexited−$545KPRUDENTIAL FINANCIAL INCexited−$498KSTATE STREET CORP−$428Kα-0.2Polymer Capital Management (US) LLCexited−$304KBlackRock, Inc.−$235Kα-0.2SG Americas Securities, LLCexited−$180K
New buyers this quarter
Top-5 holders · 46.3%
BlackRock, Inc.--
Fourthstone LLC--
DIMENSIONAL FUND ADVISORS LP--
VANGUARD CAPITAL MANAGEMENT LLC--
AMERICAN CENTURY COMPANIES INC--
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
hover the chart for per-quarter detailprice (right axis)
Fourthstone LLC1.5MALLIANCEBERNSTEIN L.P.26KBASSWOOD CAPITAL MANAGEMENT, L.L.C.228KAMERICAN CENTURY COMPANIES INC541KKENNEDY CAPITAL MANAGEMENT LLC450KPetiole USA ltd381KGOLDMAN SACHS GROUP INC356KMALTESE CAPITAL MANAGEMENT LLC329KHuber Capital Management LLC191KNuveen, LLC47K
Analyst Coverage
Analyst Coverage
Price Targets
Last Quarter (1 analysts)$27.00-110.0%
Last Year (2 analysts)$24.50-1030.0%
Current Price$27.30
Analyst Ratings
1
3
Buy: 1Hold: 3Consensus: Hold
Corporate
Insider Trading (last 12mo)
Open-market only (Form 4 P-Purchase + S-Sale). Excludes grants, option exercises, tax withholding, gifts.
Officers & directors
Buys ($, 12mo)
$123K
2 txns · 2 insiders · 4,775 sh
Sells ($, 12mo)
$829K
13 txns · 8 insiders · 42,977 sh
Recent transactions
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-05-12 | SELL | Langs Bradford N. | officer: PRESIDENT, CHIEF STRATEGY OFCR | 5,500 | $26.47 | $146K | $717K |
| 2026-05-06 | BUY | Walsh Elizabeth L. | director | 4,575 | $26.20 | $120K | $1.54M |
| 2026-05-05 | SELL | Haskins James W. | director | 1,000 | $26.04 | $26K | $1.63M |
| 2025-10-30 | SELL | Bolton Robert M. | director | 1,901 | $17.23 | $33K | $187K |
| 2025-09-10 | SELL | Speare Matthew M. | officer: SEVP, CHIEF OPERATING OFFICER | 13,550 | $19.83 | $269K | $435K |
| 2025-08-26 | SELL | Bell Wendy S. | officer: SENIOR EXECUTIVE VP, CFO | 250 | $19.54 | $5K | $0 |
| 2025-07-30 | SELL | Midkiff Catharine L. | director | 2,000 | $17.76 | $36K | $285K |
| 2025-07-28 | SELL | Haskins James W. | director | 2,000 | $17.84 | $36K | $1.10M |
| 2025-06-12 | SELL | Bloomfield Kevin S. | director | 1,629 | $16.81 | $27K | $276K |
| 2025-06-11 | SELL | Bloomfield Kevin S. | director | 6,138 | $16.74 | $103K | $275K |
| 2025-06-10 | SELL | Bloomfield Kevin S. | director | 4,509 | $16.71 | $75K | $302K |
| 2025-06-09 | SELL | Bloomfield Kevin S. | director | 1,000 | $16.52 | $17K | $373K |
| 2025-06-06 | SELL | Bloomfield Kevin S. | director | 1,000 | $16.52 | $17K | $373K |
| 2025-06-05 | SELL | Davis Jane Ann | officer: EVP, CHIEF ADMIN. OFFICER | 2,500 | $16.39 | $41K | $193K |
| 2025-06-02 | BUY | Midkiff Catharine L. | director | 200 | $16.47 | $3K | $20K |
Order Flow (FINRA, ~3w lag)
5.8%retail-2.4pp
27.7%dark+10.8pp
week of 2026-04-13
Off-exchange volume from FINRA. Retail = non-ATS (wholesaler PFOF + broker internalization). Dark = ATS (dark-pool crossing networks, institutional). Lit-exchange = remainder.
Filing Risk Analysis
Filing Risk Scores
Carter Bankshares, Inc.: Routine Regulatory Header Analysis
Overall Risk
2/10
Fraud
1/10
Dilution
1/10
Insolvency
2/10
Earnings Overstated
2/10
Hidden Liabilities
2/10
Legal
1/10
Audit Warnings
1/10
Hidden Upside
1/10
Contextually Acceptable
10/10