First Carolina Financial Services, Inc.’s Quiet Period To Expire Tomorrow (NYSE:FCBM)

First Carolina Financial Services’ (NYSE:FCBM) quiet period will end on Tuesday, July 28th. First Carolina Financial Services had issued 5,500,000 shares in its initial public offering on June 18th. The total size of the offering was $68,750,000 based on an initial share price of $12.50. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

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

First Carolina Financial Services Price Performance

First Carolina Financial Services stock opened at $12.66 on Monday. First Carolina Financial Services has a twelve month low of $12.50 and a twelve month high of $13.40.

Insider Activity

In related news, Director Gregory Everette Floyd purchased 18,750 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were bought at an average price of $12.50 per share, for a total transaction of $234,375.00. Following the acquisition, the director directly owned 152,990 shares in the company, valued at $1,912,375. This trade represents a 13.97% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Jethro Ferebee, Jr. purchased 7,100 shares of First Carolina Financial Services stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of $12.51 per share, for a total transaction of $88,821.00. Following the transaction, the director directly owned 7,100 shares in the company, valued at $88,821. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 116,655 shares of company stock worth $1,458,258 over the last three months.