First Community (NASDAQ:FCCO) Given New $34.00 Price Target at Hovde Group

First Community (NASDAQ:FCCO) had its price target raised by Hovde Group from $32.00 to $34.00 in a research note released on Tuesday, Marketbeat Ratings reports. They currently have an outperform rating on the bank’s stock.

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

First Community Stock Performance

NASDAQ FCCO opened at $30.62 on Tuesday. The company has a market capitalization of $235.47 million, a PE ratio of 12.40 and a beta of 0.38. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.78 and a current ratio of 0.78. First Community has a 52-week low of $19.46 and a 52-week high of $31.50. The company has a 50-day simple moving average of $29.66 and a 200 day simple moving average of $27.96.

First Community (NASDAQ:FCCO) last released its earnings results on Wednesday, January 28th. The bank reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. First Community had a net margin of 16.85% and a return on equity of 12.96%. The firm had revenue of $20.60 million during the quarter, compared to the consensus estimate of $20.25 million. On average, research analysts predict that First Community will post 2.28 EPS for the current year.

First Community Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, February 10th. First Community’s payout ratio is presently 25.91%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FCCO. Fourthstone LLC lifted its holdings in shares of First Community by 193.6% in the second quarter. Fourthstone LLC now owns 559,185 shares of the bank’s stock worth $13,633,000 after buying an additional 368,747 shares in the last quarter. Maltese Capital Management LLC increased its holdings in First Community by 5.3% during the 3rd quarter. Maltese Capital Management LLC now owns 239,731 shares of the bank’s stock worth $6,765,000 after acquiring an additional 12,053 shares during the period. Millennium Management LLC increased its holdings 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 during the period. Geode Capital Management LLC lifted its stake in First Community by 103.4% in the 2nd quarter. Geode Capital Management LLC now owns 174,732 shares of the bank’s stock worth $4,260,000 after purchasing an additional 88,807 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in First Community by 5.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 172,120 shares of the bank’s stock valued at $4,857,000 after purchasing an additional 9,613 shares during the period. Hedge funds and other institutional investors 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.