First Community (NASDAQ:FCCO) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of First Community (NASDAQ:FCCO) from a hold rating to a buy rating in a research note published on Saturday morning.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

First Community Stock Up 0.1%

Shares of NASDAQ FCCO opened at $34.16 on Friday. The firm has a market cap of $321.10 million, a P/E ratio of 12.75 and a beta of 0.34. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82. First Community has a 1 year low of $24.12 and a 1 year high of $35.74. The firm’s 50 day moving average price is $32.18 and its 200 day moving average price is $30.51.

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

First Community Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.17 per share. This is an increase from First Community’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 4th. First Community’s payout ratio is 23.88%.

Insider Buying and Selling at First Community

In other First Community news, EVP Fred Joseph Deutsch sold 10,000 shares of First Community 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 transaction, the executive vice president owned 18,468 shares in the company, valued at $637,515.36. This trade represents a 35.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in First Community during the third quarter worth about $26,000. BNP Paribas Financial Markets grew its holdings in shares of First Community by 324.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock worth $33,000 after purchasing an additional 1,031 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of First Community during the 2nd quarter worth about $99,000. New York State Common Retirement Fund acquired a new stake in First Community during the 2nd quarter worth approximately $102,000. Finally, Raymond James Financial Inc. purchased a new position in First Community in the second quarter valued at approximately $182,000. 61.25% of the stock is owned by hedge funds and other institutional investors.

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.