First Carolina Financial Services, Inc. (NYSE:FCBM) Short Interest Up 204.6% in July

First Carolina Financial Services, Inc. (NYSE:FCBM) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 30,870 shares, an increase of 204.6% from the July 15th total of 10,136 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 55,747 shares, the short-interest ratio is currently 0.6 days.

Insiders Place Their Bets

In related news, Director James A. Lucas, Jr. acquired 3,180 shares of First Carolina Financial Services stock in a transaction that occurred on Thursday, June 18th. The stock was acquired at an average price of $12.50 per share, for a total transaction of $39,750.00. Following the transaction, the director directly owned 52,860 shares of the company’s stock, valued at $660,750. This trade represents a 6.40% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Jethro Ferebee, Jr. acquired 7,100 shares of First Carolina Financial Services stock in a transaction that occurred on Thursday, June 18th. The shares were bought at an average price of $12.51 per share, with a total value of $88,821.00. Following the transaction, the director directly owned 7,100 shares in the company, valued at approximately $88,821. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 116,655 shares of company stock worth $1,458,258.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FCBM. Zacks Research raised shares of First Carolina Financial Services to a “hold” rating in a report on Tuesday, July 14th. Wall Street Zen raised shares of First Carolina Financial Services to a “hold” rating in a research note on Saturday, June 27th. Raymond James Financial began coverage on shares of 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. Finally, Hovde Group began coverage on shares of First Carolina Financial Services in a research note on Friday, July 17th. They issued a “market perform” rating and a $14.00 price target on the stock. One 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 company has a consensus rating of “Hold” and an average target price of $14.50.

First Carolina Financial Services Trading Down 0.5%

FCBM stock traded down $0.07 during trading on Thursday, reaching $12.72. 54,883 shares of the company’s stock were exchanged, compared to its average volume of 90,581. First Carolina Financial Services has a 1-year low of $12.17 and a 1-year high of $13.40.

About First Carolina Financial Services

First Carolina Financial Service Inc operates as a bank holding company, through its subsidiaries, provides commercial and consumer banking, payment, finance and wealth management services. First Carolina Financial Service Inc is based in Raleigh, North Carolina.