First Carolina Financial Services (NYSE:FCBM) Stock Rating Raised to Outperform at Hovde Group

First Carolina Financial Services (NYSE:FCBM) was upgraded by stock analysts at Hovde Group from a “market perform” rating to an “outperform” rating in a research note issued on Monday, Briefing.com reports. The firm presently has a $15.00 price target on the stock. Hovde Group‘s target price would indicate a potential upside of 16.10% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Raymond James Financial started coverage on shares of 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. Zacks Research upgraded First Carolina Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings began coverage on First Carolina Financial Services in a report on Monday, September 14th. They issued a “sell (e)” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, First Carolina Financial Services has an average rating of “Moderate Buy” and an average price target of $15.00.

First Carolina Financial Services Price Performance

First Carolina Financial Services stock opened at $12.92 on Monday. The business’s fifty day moving average is $12.76. The company has a market cap of $401.42 million and a price-to-earnings ratio of 64.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.98 and a current ratio of 0.98. First Carolina Financial Services has a one year low of $12.17 and a one year high of $13.40.

First Carolina Financial Services (NYSE:FCBM) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The company had revenue of $34.78 million for the quarter. Sell-side analysts expect that First Carolina Financial Services will post 0.95 earnings per share for the current fiscal year.

About First Carolina Financial Services

First Carolina Financial Services, Inc is a bank holding company for First Carolina Bank, a community banking institution headquartered in North Carolina. Through its banking subsidiary, the company provides financial services to individuals, families, small businesses and commercial customers in the communities it serves.

First Carolina Bank’s products and services generally include checking and savings accounts, certificates of deposit, consumer loans, residential and commercial real estate financing, business lending and related cash-management services.