Hovde Group Raises First Community (NASDAQ:FCCO) Price Target to $29.00

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

Separately, Raymond James raised shares of First Community from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $27.00 to $30.00 in a research note on Thursday.

First Community Stock Up 5.7 %

Shares of NASDAQ:FCCO opened at $25.97 on Thursday. The business has a fifty day simple moving average of $24.60 and a 200 day simple moving average of $22.64. First Community has a 12-month low of $15.40 and a 12-month high of $26.73. The firm has a market cap of $198.41 million, a P/E ratio of 15.37 and a beta of 0.42. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.45.

First Community (NASDAQ:FCCO) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. First Community had a return on equity of 9.57% and a net margin of 12.99%. During the same period last year, the company earned $0.43 EPS. Analysts predict that First Community will post 1.76 earnings per share for the current year.

First Community Dividend Announcement

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 issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Tuesday, February 4th. First Community’s payout ratio is 35.50%.

Institutional Trading of First Community

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

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.