First Carolina Financial Services (NYSE:FCBM) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

First Carolina Financial Services Price Performance

Shares of First Carolina Financial Services stock traded up $0.05 during trading hours on Tuesday, reaching $12.98. The company had a trading volume of 109,244 shares, compared to its average volume of 141,977. First Carolina Financial Services has a one year low of $12.17 and a one year high of $13.40. The business has a fifty day moving average price of $12.73. 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 company has a market cap of $403.29 million and a price-to-earnings ratio of 64.90.

Analyst Ratings Changes

A number of brokerages have issued reports on FCBM. Raymond James Financial initiated coverage on First Carolina Financial Services in a research note on Monday, July 13th. They issued an “outperform” rating and a $15.00 price objective for the company. Zacks Research raised shares of First Carolina Financial Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Weiss Ratings started coverage on shares of First Carolina Financial Services in a research report on Monday, September 14th. They issued a “sell (e)” rating on the stock. Finally, Hovde Group assumed coverage on shares of First Carolina Financial Services in a research report on Friday, July 17th. They issued a “market perform” rating and a $14.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.