First Community (NASDAQ:FCCO) Given New $29.00 Price Target at Hovde Group

First Community (NASDAQ:FCCO) had its target price raised by research analysts at Hovde Group from $28.00 to $29.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the bank’s stock. Hovde Group’s price target would suggest a potential upside of 11.58% 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 Trading Up 0.1 %

NASDAQ FCCO opened at $25.99 on Thursday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. First Community has a 1-year low of $15.40 and a 1-year high of $27.28. The firm has a market cap of $198.56 million, a PE ratio of 14.36 and a beta of 0.42. The stock has a 50-day moving average of $24.67 and a 200-day moving average of $22.73.

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 the consensus estimate 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 quarter in the previous year, the company posted $0.43 earnings per share. As a group, sell-side analysts forecast that First Community will post 2.08 EPS for the current year.

Institutional Investors Weigh In On First Community

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

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.