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

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 First Carolina Financial Services’ quiet period, insiders and underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates 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

Several equities research analysts have recently commented on the company. Wall Street Zen raised First Carolina Financial Services to a “hold” rating in a report on Saturday, June 27th. Hovde Group assumed coverage on First Carolina Financial Services in a research note on Friday. They issued a “market perform” rating and a $14.00 price target on the stock. 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 price objective on the stock. Finally, Zacks Research raised shares of First Carolina Financial Services to a “hold” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, First Carolina Financial Services currently has a consensus rating of “Hold” and an average target price of $14.50.

First Carolina Financial Services Price Performance

First Carolina Financial Services stock opened at $12.79 on Tuesday. First Carolina Financial Services has a 52 week low of $12.50 and a 52 week high of $13.40.

Insider Buying and Selling

In other First Carolina Financial Services news, Director James A. Lucas, Jr. bought 3,180 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was acquired at an average price 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 in the company, valued at approximately $660,750. This represents a 6.40% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Walter Gussenhoven bought 16,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was acquired at an average cost of $12.50 per share, with a total value of $200,000.00. Following the transaction, the director owned 334,016 shares of the company’s stock, valued at $4,175,200. This trade represents a 5.03% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have bought 116,655 shares of company stock valued at $1,458,258.