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

First Community (NASDAQ:FCCO) had its price target lifted by analysts at Hovde Group from $32.00 to $34.00 in a research note issued on Tuesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the bank’s stock. Hovde Group’s price objective would suggest a potential upside of 10.50% from the company’s current price.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $34.00.

First Community Stock Performance

NASDAQ FCCO opened at $30.77 on Tuesday. The company has a market cap of $236.62 million, a P/E ratio of 12.46 and a beta of 0.38. First Community has a 1-year low of $19.46 and a 1-year high of $31.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a 50-day moving average of $29.70 and a two-hundred day moving average of $27.98.

First Community (NASDAQ:FCCO) last posted 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. First Community had a return on equity of 12.96% and a net margin of 16.85%.The business had revenue of $20.60 million for the quarter, compared to analyst estimates of $20.25 million. As a group, analysts anticipate that First Community will post 2.28 EPS for the current year.

Hedge Funds Weigh In On First Community

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCCO. Advisory Services Network LLC purchased a new position in shares of First Community in the third quarter valued at $26,000. CWM LLC acquired a new stake in First Community in the 3rd quarter valued at about $31,000. BNP Paribas Financial Markets increased its holdings in First Community by 324.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,031 shares in the last quarter. Federated Hermes Inc. raised its position in First Community by 116.2% during the third quarter. Federated Hermes Inc. now owns 1,405 shares of the bank’s stock worth $40,000 after acquiring an additional 755 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey acquired a new position in First Community during the second quarter worth about $41,000. Institutional investors and hedge funds own 61.25% of the company’s stock.

First Community Company Profile

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.