First Community (NASDAQ:FCCO) Stock Price Passes Above 200-Day Moving Average – Here’s Why

First Community Corporation (NASDAQ:FCCO) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.47 and traded as high as $30.83. First Community shares last traded at $30.38, with a volume of 58,369 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FCCO shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a research note on Tuesday, April 21st. Hovde Group lifted their price objective on First Community from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.

First Community Stock Down 0.1%

The firm has a market capitalization of $285.57 million, a price-to-earnings ratio of 11.91 and a beta of 0.35. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $29.76 and a two-hundred day moving average price of $29.47.

First Community (NASDAQ:FCCO) last released its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.08. The business had revenue of $23.16 million for the quarter, compared to analyst estimates of $23.61 million. First Community had a return on equity of 13.00% and a net margin of 17.29%. On average, equities analysts expect that First Community Corporation will post 2.97 earnings per share for the current fiscal year.

First Community Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $0.64 annualized dividend and a yield of 2.1%. First Community’s payout ratio is 25.10%.

Hedge Funds Weigh In On First Community

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fifth Third Wealth Advisors LLC acquired a new position in First Community during the 1st quarter worth approximately $8,430,000. Maltese Capital Management LLC lifted its position in First Community by 5.3% during the 4th quarter. Maltese Capital Management LLC now owns 252,500 shares of the bank’s stock worth $7,487,000 after acquiring an additional 12,769 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Community by 11.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 205,992 shares of the bank’s stock worth $6,021,000 after acquiring an additional 20,970 shares in the last quarter. Millennium Management LLC lifted its position in First Community by 115.5% during the 1st quarter. Millennium Management LLC now owns 195,527 shares of the bank’s stock worth $4,411,000 after acquiring an additional 104,796 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in First Community by 103.4% during the 2nd quarter. Geode Capital Management LLC now owns 174,732 shares of the bank’s stock worth $4,260,000 after acquiring an additional 88,807 shares in the last quarter. 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.