First Carolina Financial Services, Inc.’s (NYSE:FCBM) Quiet Period To Expire on July 28th

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 IPO 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, insiders and any underwriters that worked on the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

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

First Carolina Financial Services Price Performance

Shares of First Carolina Financial Services stock opened at $12.76 on Thursday. First Carolina Financial Services has a 12-month low of $12.50 and a 12-month high of $13.40.

Insiders Place Their Bets

In other news, Director Charles Austin Robbins, Jr. purchased 14,000 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was bought at an average cost of $12.50 per share, for a total transaction of $175,000.00. Following the completion of the acquisition, the director directly owned 369,492 shares of the company’s stock, valued at approximately $4,618,650. The trade was a 3.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gregory Everette Floyd purchased 18,750 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were purchased at an average price of $12.50 per share, with a total value of $234,375.00. Following the completion of the acquisition, the director directly owned 152,990 shares of the company’s stock, valued at approximately $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. Insiders acquired a total of 116,655 shares of company stock worth $1,458,258 in the last ninety days.