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

First Carolina Financial Services, Inc. (NYSE:FCBM – Get Free Report) was the target of a significant increase in short interest during the month of 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. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 107,420 shares, the short-interest ratio is presently 0.1 days.

Insider Activity

In other news, Director John Walter Gussenhoven bought 16,000 shares of First Carolina Financial Services stock in a transaction on Thursday, June 18th. The shares were bought at an average cost of $12.50 per share, for a total transaction of $200,000.00. Following the acquisition, the director owned 334,016 shares in the company, valued at approximately $4,175,200. This trade represents a 5.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles Austin Robbins, Jr. bought 14,000 shares of First Carolina Financial Services stock in a transaction on Thursday, June 18th. The stock was purchased at an average price of $12.50 per share, for a total transaction of $175,000.00. Following the completion of the acquisition, the director owned 369,492 shares in the company, valued at $4,618,650. This represents a 3.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 116,655 shares of company stock worth $1,458,258 in the last quarter.

Get First Carolina Financial Services alerts:

First Carolina Financial Services Price Performance

Shares of FCBM traded down $0.05 during mid-day trading on Friday, hitting $12.66. The company had a trading volume of 25,632 shares, compared to its average volume of 90,406. First Carolina Financial Services has a 1-year low of $12.50 and a 1-year high of $13.40.

Analysts Set New Price Targets

FCBM has been the subject of a number of analyst reports. Wall Street Zen raised shares of First Carolina Financial Services to a “hold” rating in a research report on Saturday, June 27th. Raymond James Financial started coverage on shares of 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. Zacks Research raised shares of First Carolina Financial Services to a “hold” rating in a research note on Tuesday, July 14th. Finally, Hovde Group started coverage on First Carolina Financial Services in a report on Friday, July 17th. They issued a “market perform” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.50.

View Our Latest Stock Analysis on FCBM

Featured Stories

• Five stocks we like better than First Carolina Financial Services
• RTX and Lockheed Earnings: Can Strong Guidance Reset the Defense Trade?
• These 4 Earnings Reports Expose the Market’s Growing Economic Divide
• Broadcom May Be the Biggest Winner From Alphabet’s Earnings
• Volatility Is Back and These 3 Market Tollbooths Are Best Positioned to Profit

Receive News & Ratings for First Carolina Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Carolina Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.