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

First Community (NASDAQ:FCCO - Get Free Report) had its target price lifted by stock analysts at Hovde Group from $28.00 to $29.00 in a research report issued on Thursday, Marketbeat Ratings reports. The firm presently has an "outperform" rating on the bank's stock. Hovde Group's price target indicates a potential upside of 20.88% from the company's previous close.

FCCO has been the subject of a number of other research reports. Janney Montgomery Scott raised shares of First Community from a "neutral" rating to a "buy" rating and set a $30.00 target price for the company in a research note on Tuesday, February 4th. Raymond James raised First Community from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $27.00 to $30.00 in a research report on Thursday, January 23rd.

First Community Stock Up 1.2 %

NASDAQ:FCCO traded up $0.29 during trading hours on Thursday, hitting $23.99. 8,900 shares of the stock traded hands, compared to its average volume of 37,132. The firm has a 50 day moving average price of $22.59 and a 200 day moving average price of $23.98. The firm has a market cap of $184.03 million, a price-to-earnings ratio of 13.24 and a beta of 0.31. First Community has a fifty-two week low of $15.75 and a fifty-two week high of $27.96. 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 (NASDAQ:FCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.51 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.04. The firm had revenue of $18.37 million during the quarter, compared to analyst estimates of $17.39 million. First Community had a return on equity of 10.14% and a net margin of 13.49%. Equities research analysts anticipate that First Community will post 2.28 earnings per share for the current year.

Hedge Funds Weigh In On First Community

Institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of First Community by 57.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,282 shares of the bank's stock worth $511,000 after acquiring an additional 7,788 shares in the last quarter. State Street Corp boosted its position in First Community by 5.6% during the third quarter. State Street Corp now owns 22,795 shares of the bank's stock worth $489,000 after purchasing an additional 1,200 shares during the period. Barclays PLC grew its holdings in First Community by 214.0% during the third quarter. Barclays PLC now owns 10,046 shares of the bank's stock valued at $215,000 after purchasing an additional 6,847 shares during the last quarter. Geode Capital Management LLC raised its position in shares of First Community by 6.6% in the third quarter. Geode Capital Management LLC now owns 83,088 shares of the bank's stock valued at $1,782,000 after purchasing an additional 5,157 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of First Community in the fourth quarter worth $39,000. 61.25% of the stock is currently owned by institutional investors.

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.