Hovde upgrades First Carolina Financial Services to 'outperform'

FCBM•2026-11-02

Hovde Group upgraded First Carolina Financial Services to “outperform” from “market perform” and raised its price target to $15 from $14. It also increased its 2026 and 2027 earnings-per-share estimates by 6 cents each and established a 2028 estimate of $1.66.

1. Higher estimates

Hovde Group said loan growth has gained traction following First Carolina Financial Services’ June IPO, improving its outlook for average earning assets, while credit costs are running below previous expectations. The brokerage raised its 2026 EPS estimate to 97 cents and its 2027 estimate to $1.43, and set a 2028 estimate of $1.66.

Hovde upgrades First Carolina Financial Services to 'outperform'

1. Higher estimates

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