Hovde Group Forecasts Strong Price Appreciation for First Community (NASDAQ:FCCO) Stock

First Community (NASDAQ:FCCO) had its target price upped by Hovde Group from $28.00 to $29.00 in a research report sent to investors on Thursday morning, Marketbeat reports. They currently have an outperform rating on the bank’s stock.

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 Trading Up 0.1 %

NASDAQ:FCCO opened at $25.99 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50-day simple moving average is $24.67 and its 200-day simple moving average is $22.77. First Community has a fifty-two week low of $15.40 and a fifty-two week high of $27.28. The stock has a market capitalization of $198.56 million, a PE ratio of 14.36 and a beta of 0.42.

First Community (NASDAQ:FCCO) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. First Community had a net margin of 13.49% and a return on equity of 10.14%. During the same period last year, the company earned $0.43 EPS. Sell-side analysts expect that First Community will post 2.08 earnings per share for the current fiscal year.

First Community Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $0.60 annualized dividend and a yield of 2.31%. First Community’s payout ratio is currently 33.15%.

Hedge Funds Weigh In On First Community

A number of large investors have recently modified their holdings of FCCO. Cubist Systematic Strategies LLC bought a new stake in First Community during the second quarter worth about $58,000. Barclays PLC increased its position in shares of First Community by 214.0% during the 3rd quarter. Barclays PLC now owns 10,046 shares of the bank’s stock worth $215,000 after purchasing an additional 6,847 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First Community during the 2nd quarter worth approximately $190,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of First Community in the 3rd quarter valued at approximately $289,000. Finally, Squarepoint Ops LLC bought a new position in shares of First Community in the second quarter valued at $261,000. 61.25% of the stock is currently owned by institutional investors and hedge funds.

About First Community

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.