First Community (NASDAQ:FCCO) Stock Price Expected to Rise, Hovde Group Analyst Says

First Community (NASDAQ:FCCO) had its price target hoisted by research analysts at Hovde Group from $36.00 to $37.50 in a research note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the bank’s stock. Hovde Group’s target price suggests a potential upside of 9.78% from the stock’s previous close.

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

First Community Price Performance

Shares of NASDAQ:FCCO opened at $34.16 on Thursday. First Community has a 1-year low of $25.66 and a 1-year high of $35.74. The firm has a market capitalization of $321.04 million, a PE ratio of 12.75 and a beta of 0.34. The business’s 50 day moving average is $32.82 and its 200-day moving average is $30.78. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07.

First Community (NASDAQ:FCCO) last issued its earnings results on Wednesday, July 22nd. The bank reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.15. The business had revenue of $25.14 million during the quarter, compared to analyst estimates of $24.69 million. First Community had a return on equity of 14.03% and a net margin of 18.32%. Sell-side analysts predict that First Community will post 3.13 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total transaction of $345,200.00. Following the sale, the executive vice president directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.84% of the stock is currently owned by company insiders.

Institutional Trading of First Community

Large investors have recently made changes to their positions in the business. Millennium Management LLC raised its holdings in shares of First Community by 115.5% in the first quarter. Millennium Management LLC now owns 195,527 shares of the bank’s stock valued at $4,411,000 after buying an additional 104,796 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in First Community by 1,230.5% during the 1st quarter. Jones Financial Companies Lllp now owns 12,640 shares of the bank’s stock worth $285,000 after acquiring an additional 11,690 shares during the last quarter. Goldman Sachs Group Inc. increased its position in First Community by 199.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank’s stock valued at $2,051,000 after acquiring an additional 60,596 shares in the last quarter. Empowered Funds LLC increased its position in First Community by 7.7% in the 1st quarter. Empowered Funds LLC now owns 10,080 shares of the bank’s stock valued at $227,000 after acquiring an additional 721 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of First Community by 63.7% in the first quarter. Jane Street Group LLC now owns 51,323 shares of the bank’s stock worth $1,158,000 after acquiring an additional 19,978 shares during the last quarter. Institutional investors own 61.25% of the company’s stock.

About First Community

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.