FVCBANKCORP Inc/SH’s (OTCMKTS:FVCB) quiet period will end on Wednesday, October 24th. FVCBANKCORP Inc/SH had issued 1,750,000 shares in its initial public offering on September 14th. The total size of the offering was $35,000,000 based on an initial share price of $20.00. During the company’s quiet period, insiders and any underwriters that worked on the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research analysts recently commented on the stock. Zacks Investment Research upgraded shares of FVCBANKCORP Inc/SH from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday, August 3rd. Raymond James assumed coverage on shares of FVCBANKCORP Inc/SH in a report on Thursday, October 11th. They issued an “outperform” rating and a $22.00 target price on the stock.
OTCMKTS FVCB traded up $0.10 on Friday, reaching $18.93. The company’s stock had a trading volume of 27,437 shares, compared to its average volume of 10,731. FVCBANKCORP Inc/SH has a 52 week low of $16.43 and a 52 week high of $21.20.
In related news, Director Phillip R. Wills III bought 25,000 shares of FVCBANKCORP Inc/SH stock in a transaction dated Tuesday, September 18th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $500,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders acquired 27,000 shares of company stock worth $538,390.
A hedge fund recently bought a new stake in FVCBANKCORP Inc/SH stock. Alliancebernstein L.P. purchased a new position in shares of FVCBANKCORP Inc/SH (OTCMKTS:FVCB) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 169,880 shares of the company’s stock, valued at approximately $3,364,000. Alliancebernstein L.P. owned about 1.53% of FVCBANKCORP Inc/SH at the end of the most recent reporting period. Institutional investors own 4.15% of the company’s stock.
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About FVCBANKCORP Inc/SH
FVCBankcorp, Inc provides various banking products and services in Fairfax, Virginia. It offers various personal and business banking products and services, such as checking and savings accounts, money market accounts, certificates of deposit, individual retirement accounts, and health savings accounts.
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