First Carolina Financial Services (NYSE:FCBM) Raised to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded First Carolina Financial Services from “hold” to “strong buy,” while other analysts remain mixed; the stock has a consensus “Moderate Buy” rating and a $14.50 target price.
• FCBM shares opened at $12.68, near their 50-day average of $12.71, with a 12-month range of $12.17 to $13.40 and a market capitalization of approximately $394 million.
• The company reported quarterly EPS of $0.20, beating the $0.19 consensus estimate, on revenue of $32.26 million. Analysts expect full-year EPS of approximately $0.95.

First Carolina Financial Services (NYSE:FCBM - Get Free Report) was upgraded by stock analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Tuesday, Zacks reports.

Several other analysts also recently weighed in on FCBM. Weiss Ratings started coverage on First Carolina Financial Services in a report on Monday, September 14th. They issued a "sell (e)" rating for the company. Raymond James Financial assumed coverage on First Carolina Financial Services in a research report on Monday, July 13th. They set an "outperform" rating and a $15.00 price target on the stock. Hovde Group initiated coverage on 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. Finally, Wall Street Zen raised First Carolina Financial Services to a "hold" rating in a report on Saturday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given 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 target price of $14.50.

First Carolina Financial Services Price Performance

Shares of NYSE:FCBM opened at $12.68 on Tuesday. The stock's fifty day moving average is $12.71. First Carolina Financial Services has a 12 month low of $12.17 and a 12 month high of $13.40. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $393.97 million and a price-to-earnings ratio of 63.40.

First Carolina Financial Services (NYSE:FCBM - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. The company had revenue of $32.26 million during the quarter. On average, sell-side analysts anticipate that First Carolina Financial Services will post 0.95 EPS for the current year.

About First Carolina Financial Services

First Carolina Financial Services, Inc is a bank holding company associated with First Carolina Bank, a community banking institution based in North Carolina. The company focuses on serving businesses, individuals and organizations through relationship-oriented banking services.

First Carolina Bank's offerings include business and personal checking and savings accounts, commercial and consumer lending, mortgage-related financing, cash-management services, online and mobile banking, and other traditional banking products.

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