Raymond James Upgrades First Community (NASDAQ:FCCO) to “Strong-Buy”

First Community (NASDAQ:FCCO) was upgraded by stock analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The firm presently has a $30.00 target price on the bank’s stock, up from their prior target price of $27.00. Raymond James’ price objective points to a potential upside of 15.43% from the stock’s current price.

First Community Trading Up 0.1 %

Shares of FCCO stock opened at $25.99 on Thursday. The stock has a fifty day simple moving average of $24.67 and a two-hundred day simple moving average of $22.73. First Community has a 52-week low of $15.40 and a 52-week high of $27.28. The firm has a market capitalization of $198.56 million, a PE ratio of 14.36 and a beta of 0.42. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 0.79.

First Community (NASDAQ:FCCO) last issued its earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.06. First Community had a return on equity of 10.14% and a net margin of 13.49%. During the same quarter in the prior year, the firm posted $0.43 EPS. On average, analysts predict that First Community will post 2.08 EPS for the current fiscal year.

Institutional Trading of First Community

Large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new position in First Community during the second quarter valued at $58,000. Point72 Asia Singapore Pte. Ltd. bought a new position in First Community in the second quarter worth approximately $190,000. Barclays PLC grew its position in shares of First Community by 214.0% during the 3rd quarter. Barclays PLC now owns 10,046 shares of the bank’s stock worth $215,000 after buying an additional 6,847 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of First Community during the second quarter valued at approximately $261,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Community in the 3rd quarter valued at $289,000. 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.