First Community (NASDAQ:FCCO) Price Target Raised to $37.50

First Community (NASDAQ:FCCOGet Free Report) had its target price lifted by investment analysts at Hovde Group from $36.00 to $37.50 in a research report issued on Thursday. The brokerage currently has an “outperform” rating on the bank’s stock. Hovde Group’s price target points to a potential upside of 9.78% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a research report on Friday, July 17th. Wall Street Zen raised shares of First Community from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

Get Our Latest Stock Report on First Community

First Community Trading Up 1.2%

FCCO stock opened at $34.16 on Thursday. The company has a market cap of $321.04 million, a P/E ratio of 12.75 and a beta of 0.34. First Community has a twelve month low of $25.66 and a twelve month high of $35.74. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. The business has a fifty day moving average of $32.82 and a 200-day moving average of $30.78.

First Community (NASDAQ:FCCOGet Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.15. The business had revenue of $25.14 million for the quarter, compared to analysts’ expectations of $24.69 million. First Community had a return on equity of 14.03% and a net margin of 18.32%. As a group, equities research analysts expect that First Community will post 3.13 EPS for the current year.

Insider Activity

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total value of $345,200.00. Following the completion of the sale, the executive vice president owned 18,468 shares in the company, valued at $637,515.36. This represents a 35.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Community

Several large investors have recently modified their holdings of FCCO. Advisory Services Network LLC acquired a new position in shares of First Community in the 3rd quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted its stake in First Community by 324.2% in the second quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock valued at $33,000 after buying an additional 1,031 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of First Community in the second quarter valued at approximately $99,000. New York State Common Retirement Fund bought a new stake in shares of First Community during the second quarter worth $102,000. Finally, Raymond James Financial Inc. bought a new stake in shares of First Community during the second quarter worth $182,000. 61.25% of the stock is currently owned by institutional investors.

First Community Company Profile

(Get Free Report)

First Community Financial Corp. (NASDAQ: FCCO) is the bank holding company for First Community Bank, a full-service commercial bank headquartered in Bluefield, West Virginia. Through its subsidiary, the company delivers a comprehensive range of financial services to individuals, small businesses and larger commercial clients. Its operations are focused on community banking, with an emphasis on personalized relationship management and local decision-making.

The company’s core offerings include deposit products such as checking and savings accounts, certificates of deposit and money market accounts, as well as consumer and commercial lending solutions.

Further Reading

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