Hovde Group Boosts First Community (NASDAQ:FCCO) Price Target to $29.00

First Community (NASDAQ:FCCO) had its price target increased by equities research analysts at Hovde Group from $28.00 to $29.00 in a research report issued on Thursday,Briefing.com Automated Import reports. The firm presently has an “outperform” rating on the bank’s stock. Hovde Group’s target price points to a potential upside of 18.03% from the stock’s current price.

Separately, Raymond James upgraded First Community from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $27.00 to $30.00 in a report on Thursday.

First Community Price Performance

Shares of First Community stock opened at $24.57 on Thursday. The stock has a market cap of $187.71 million, a price-to-earnings ratio of 14.54 and a beta of 0.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a 50 day moving average price of $24.60 and a 200-day moving average price of $22.63. First Community has a one year low of $15.40 and a one year high of $26.48.

First Community (NASDAQ:FCCO) last released its earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.06. First Community had a return on equity of 9.57% and a net margin of 12.99%. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities analysts expect that First Community will post 1.76 EPS for the current year.

Institutional Trading of First Community

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC bought a new position in shares of First Community during the 2nd quarter worth approximately $261,000. State Street Corp increased its position in shares of First Community by 5.6% during the third quarter. State Street Corp now owns 22,795 shares of the bank’s stock worth $489,000 after purchasing an additional 1,200 shares in the last quarter. Barclays PLC increased its position in shares of First Community by 214.0% during the third quarter. Barclays PLC now owns 10,046 shares of the bank’s stock worth $215,000 after purchasing an additional 6,847 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Community by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 83,088 shares of the bank’s stock valued at $1,782,000 after purchasing an additional 5,157 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of First Community in the 2nd quarter worth $58,000. 61.25% of the stock is currently owned by institutional investors.

First Community Company Profile

First Community Corporation operates as the bank holding company for First Community Bank that provides various commercial and retail banking products and services to small-to-medium sized businesses, professionals, and individuals. The company operates through Commercial and Retail Banking, Mortgage Banking, and Investment Advisory and Non-Deposit segments.