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

First Carolina Financial Services, Inc. (NYSE:FCBM) was the recipient of a large growth in short interest in 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. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 107,420 shares, the days-to-cover ratio is presently 0.1 days.

Analyst Upgrades and Downgrades

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

First Carolina Financial Services Price Performance

Shares of FCBM traded up $0.04 on Tuesday, reaching $12.51. 79,790 shares of the company’s stock were exchanged, compared to its average volume of 88,358. First Carolina Financial Services has a 12 month low of $12.37 and a 12 month high of $13.40.

Insider Transactions at First Carolina Financial Services

In related news, Director John Jethro Ferebee, Jr. bought 7,100 shares of First Carolina Financial Services stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of $12.51 per share, for a total transaction of $88,821.00. Following the completion of the transaction, the director owned 7,100 shares of the company’s stock, valued at approximately $88,821. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gregory Everette Floyd purchased 9,875 shares of the firm’s stock in a transaction dated Thursday, June 18th. The shares were bought at an average cost of $12.50 per share, for a total transaction of $123,437.50. Following the completion of the purchase, the director directly owned 43,375 shares of the company’s stock, valued at $542,187.50. The trade was a 29.48% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 116,655 shares of company stock worth $1,458,258.