First Carolina Financial Services (NYSE:FCBM) Announces Earnings Results, Beats Expectations By $0.02 EPS

First Carolina Financial Services (NYSE:FCBM) issued its earnings results on Tuesday. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02, FiscalAI reports. The business had revenue of $34.78 million during the quarter.

First Carolina Financial Services Trading Up 0.8%

Shares of FCBM stock traded up $0.11 during trading hours on Thursday, reaching $13.14. 44,104 shares of the company’s stock were exchanged, compared to its average volume of 141,616. First Carolina Financial Services has a 1 year low of $12.17 and a 1 year high of $13.40. The stock has a market cap of $408.25 million and a PE ratio of 65.70. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day moving average price of $12.74.

Wall Street Analyst Weigh In

Several brokerages have commented on FCBM. Raymond James Financial assumed 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 on the stock. Zacks Research upgraded shares of First Carolina Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 6th. Weiss Ratings initiated coverage on First Carolina Financial Services in a report on Monday, September 14th. They issued a “sell (e)” rating on the stock. 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 objective for the company. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.50.

About First Carolina Financial Services

First Carolina Financial Services, Inc is a bank holding company for First Carolina Bank, a community banking institution headquartered in North Carolina. Through its banking subsidiary, the company provides financial services to individuals, families, small businesses and commercial customers in the communities it serves.

First Carolina Bank’s products and services generally include checking and savings accounts, certificates of deposit, consumer loans, residential and commercial real estate financing, business lending and related cash-management services.