First Community (NASDAQ:FCCO) Shares Cross Above 200-Day Moving Average - Here's What Happened

Key Points

• Shares crossed above the 200‑day moving average — FCCO traded as high as $30.44 and last at $30.11 on volume of 97,802, breaking above its 200‑day MA of $29.18.
• Analysts remain positive with a $34 average target — the consensus is a "Moderate Buy" (two Buys, one Hold) and Hovde Group raised its target to $34.
• Quarterly results beat on EPS and a dividend was declared — FCCO reported $0.72 EPS vs. $0.64 expected (revenue $23.16M vs. $23.61M expected) and announced a $0.16 quarterly dividend (annualized $0.64, ~2.1% yield; ex‑div May 5).

Shares of First Community Corporation (NASDAQ:FCCO - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.18 and traded as high as $30.44. First Community shares last traded at $30.11, with a volume of 97,802 shares changing hands.

Analysts Set New Price Targets

FCCO has been the subject of several research analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Community in a research note on Tuesday, April 21st. Hovde Group boosted their target price on First Community from $32.00 to $34.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.00.

First Community Stock Up 0.9%

The firm's 50 day moving average is $29.43 and its 200-day moving average is $29.18. The firm has a market cap of $282.43 million, a PE ratio of 11.81 and a beta of 0.35. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.09.

First Community (NASDAQ:FCCO - Get Free Report) last released its earnings results on Wednesday, April 22nd. The bank reported $0.72 EPS for the quarter, topping the consensus estimate of $0.64 by $0.08. First Community had a net margin of 17.29% and a return on equity of 14.19%. The firm had revenue of $23.16 million during the quarter, compared to analysts' expectations of $23.61 million. As a group, equities research analysts expect that First Community Corporation will post 2.97 earnings per share for the current fiscal year.

First Community Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.1%. The ex-dividend date is Tuesday, May 5th. First Community's dividend payout ratio is presently 25.10%.

Institutional Trading of First Community

A number of hedge funds have recently added to or reduced their stakes in the business. Rosenthal Henry Capital Advisors Inc. acquired a new stake in shares of First Community in the third quarter worth approximately $997,000. SummerHaven Investment Management LLC purchased a new stake in First Community in the third quarter valued at approximately $944,000. PFG Investments LLC acquired a new position in First Community during the third quarter worth approximately $217,000. CWM LLC acquired a new position in First Community during the third quarter worth approximately $31,000. Finally, Hsbc Holdings PLC raised its stake in First Community by 7.3% during the first quarter. Hsbc Holdings PLC now owns 18,938 shares of the bank's stock worth $553,000 after purchasing an additional 1,286 shares during the period. 61.25% of the stock is owned by institutional investors and hedge funds.

About First Community

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.

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