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

First Carolina Financial Services’ (NYSE:FCBM) quiet period will expire on Tuesday, July 28th. First Carolina Financial Services had issued 5,500,000 shares in its initial public offering 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 Analysts Forecast Growth

FCBM has been the topic of a number of research analyst reports. Hovde Group started coverage on First Carolina Financial Services in a research report on Friday, July 17th. They set a “market perform” rating and a $14.00 price target on the stock. Zacks Research upgraded First Carolina Financial Services to a “hold” rating in a research report on Tuesday, July 14th. Raymond James Financial began coverage on First Carolina Financial Services in a research note on Monday, July 13th. They set an “outperform” rating and a $15.00 target price for the company. Finally, Wall Street Zen upgraded shares of First Carolina Financial Services to a “hold” rating in a report on Saturday, June 27th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $14.50.

First Carolina Financial Services Stock Down 0.4%

Shares of NYSE FCBM opened at $12.66 on Friday. First Carolina Financial Services has a 1-year low of $12.50 and a 1-year high of $13.40.

Insider Buying and Selling

In other news, Director James A. Lucas, Jr. acquired 3,180 shares of First Carolina Financial Services stock in a transaction dated Thursday, June 18th. The stock was bought at an average cost of $12.50 per share, with a total value of $39,750.00. Following the completion of the transaction, the director directly owned 52,860 shares of the company’s stock, valued at approximately $660,750. This represents a 6.40% 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 John Walter Gussenhoven acquired 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were purchased at an average price of $12.50 per share, with a total value of $200,000.00. Following the completion of the acquisition, the director owned 334,016 shares of the company’s stock, valued at $4,175,200. This represents a 5.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 116,655 shares of company stock valued at $1,458,258.