First Community (NASDAQ:FCCO) Price Target Raised to $34.00 at Hovde Group

First Community (NASDAQ:FCCO) had its price target upped by research analysts at Hovde Group from $32.00 to $34.00 in a note issued to investors on Tuesday. The brokerage presently has an “outperform” rating on the bank’s stock. Hovde Group’s price target would indicate a potential upside of 11.53% from the company’s previous close.

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a research note on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

First Community Price Performance

Shares of NASDAQ:FCCO traded up $0.28 during midday trading on Tuesday, hitting $30.49. 8,472 shares of the stock were exchanged, compared to its average volume of 69,840. The stock has a market cap of $234.43 million, a P/E ratio of 12.34 and a beta of 0.38. First Community has a twelve month low of $19.46 and a twelve month high of $31.50. The company has a 50 day moving average price of $29.63 and a 200-day moving average price of $27.92. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09.

First Community (NASDAQ:FCCO) last issued its quarterly earnings data on Wednesday, January 28th. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $20.60 million during the quarter, compared to analysts’ expectations of $20.25 million. First Community had a net margin of 16.85% and a return on equity of 12.96%. On average, research analysts forecast that First Community will post 2.28 earnings per share for the current year.

Institutional Investors Weigh In On First Community

A number of large investors have recently added to or reduced their stakes in FCCO. Rosenthal Henry Capital Advisors Inc. acquired a new position in First Community in the 3rd quarter worth $997,000. Los Angeles Capital Management LLC purchased a new stake in First Community during the 2nd quarter worth approximately $992,000. Fourthstone LLC raised its position in shares of First Community by 193.6% in the 2nd quarter. Fourthstone LLC now owns 559,185 shares of the bank’s stock valued at $13,633,000 after purchasing an additional 368,747 shares in the last quarter. Blue Trust Inc. purchased a new position in shares of First Community during the 2nd quarter valued at approximately $42,000. Finally, SummerHaven Investment Management LLC acquired a new stake in shares of First Community during the third quarter worth approximately $944,000. 61.25% of the stock is owned by institutional investors and hedge funds.

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.