First Carolina Financial Services, Inc. (NYSE:FCBM) Sees Large Increase in Short Interest

First Carolina Financial Services, Inc. (NYSE:FCBM) was the recipient of a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 10,136 shares, a growth of 219.2% from the June 30th total of 3,175 shares. Based on an average trading volume of 107,420 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the company’s shares are short sold.

Insider Transactions at First Carolina Financial Services

In other news, Director Charles Austin Robbins, Jr. purchased 14,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of $12.50 per share, for a total transaction of $175,000.00. Following the completion of the purchase, the director directly owned 369,492 shares of the company’s stock, valued at $4,618,650. The trade was a 3.94% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gregory Everette Floyd acquired 18,750 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was purchased at an average price of $12.50 per share, for a total transaction of $234,375.00. Following the completion of the acquisition, the director owned 152,990 shares in the company, valued at approximately $1,912,375. This trade represents a 13.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired 116,655 shares of company stock valued at $1,458,258 in the last ninety days.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on FCBM shares. Raymond James Financial started coverage on shares of First Carolina Financial Services in a research note on Monday, July 13th. They issued an “outperform” rating and a $15.00 target price on the stock. Hovde Group began coverage on shares of First Carolina Financial Services in a report on Friday, July 17th. They issued a “market perform” rating and a $14.00 price objective for the company. Wall Street Zen raised shares of First Carolina Financial Services to a “hold” rating in a research note on Saturday, June 27th. Finally, Zacks Research upgraded shares of First Carolina Financial Services to a “hold” rating in a research report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $14.50.

First Carolina Financial Services Stock Down 0.4%

NYSE FCBM traded down $0.05 on Friday, reaching $12.66. 25,632 shares of the stock traded hands, compared to its average volume of 90,406. First Carolina Financial Services has a 12 month low of $12.50 and a 12 month high of $13.40.