First Carolina Financial Services, Inc. (NYSE:FCBM) Short Interest Update

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

First Carolina Financial Services Stock Down 1.7%

First Carolina Financial Services stock traded down $0.21 during mid-day trading on Monday, reaching $12.45. The company’s stock had a trading volume of 67,522 shares, compared to its average volume of 89,489. 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 Walter Gussenhoven purchased 16,000 shares of First Carolina Financial Services stock in a transaction dated Thursday, June 18th. The stock was bought at an average price of $12.50 per share, for a total transaction of $200,000.00. Following the completion of the acquisition, the director directly owned 334,016 shares of the company’s stock, valued at $4,175,200. This represents a 5.03% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Everette Floyd acquired 18,750 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director owned 152,990 shares of the company’s stock, valued at $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. In the last 90 days, insiders have purchased 116,655 shares of company stock valued at $1,458,258.

Analysts Set New Price Targets

Several research firms have 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 set an “outperform” rating and a $15.00 price objective for the company. Wall Street Zen upgraded First Carolina Financial Services to a “hold” rating in a report on Saturday, June 27th. Finally, Hovde Group initiated coverage on First Carolina Financial Services in a research report on Friday, July 17th. They issued a “market perform” rating and a $14.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, First Carolina Financial Services has an average rating of “Hold” and a consensus price target of $14.50.