Short Interest in First Carolina Financial Services, Inc. (NYSE:FCBM) Increases By 204.6%

First Carolina Financial Services, Inc. (NYSE:FCBM) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 30,870 shares, a growth of 204.6% from the July 15th total of 10,136 shares. Based on an average daily trading volume, of 55,747 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Insider Transactions at First Carolina Financial Services

In other First Carolina Financial Services news, Director Gregory Everette Floyd bought 9,875 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of $12.50 per share, for a total transaction of $123,437.50. Following the acquisition, the director directly owned 43,375 shares of the company’s stock, valued at $542,187.50. This trade represents a 29.48% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director James A. Lucas, Jr. bought 3,180 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were acquired at an average cost of $12.50 per share, with a total value of $39,750.00. Following the completion of the purchase, the director owned 52,860 shares of the company’s stock, valued at approximately $660,750. The trade was a 6.40% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 116,655 shares of company stock valued at $1,458,258 over the last three months.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Wall Street Zen raised First Carolina Financial Services to a “hold” rating in a report on Saturday, June 27th. Hovde Group initiated coverage on First Carolina Financial Services in a report on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price on the stock. Raymond James Financial began coverage on First Carolina Financial Services in a research report on Monday, July 13th. They set an “outperform” rating and a $15.00 target price on the stock. Finally, Zacks Research raised First Carolina Financial Services to a “hold” rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $14.50.

First Carolina Financial Services Stock Down 0.1%

NYSE:FCBM traded down $0.01 during trading hours on Friday, hitting $12.74. 47,038 shares of the stock traded hands, compared to its average volume of 73,691. The business’s 50 day simple moving average is $12.70. First Carolina Financial Services has a fifty-two week low of $12.17 and a fifty-two week high of $13.40.

First Carolina Financial Services (NYSE:FCBM) last issued its earnings results on Thursday, July 30th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. The business had revenue of $32.26 million during the quarter. Equities research analysts anticipate that First Carolina Financial Services will post 0.95 earnings per share for the current year.

First Carolina Financial Services Company Profile

First Carolina Financial Service Inc operates as a bank holding company, through its subsidiaries, provides commercial and consumer banking, payment, finance and wealth management services. First Carolina Financial Service Inc is based in Raleigh, North Carolina.