First Community (NASDAQ:FCCO) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded First Community from “buy” to “hold,” although Hovde Group raised its price target to $37.50 and Weiss Ratings maintained a buy rating. The overall analyst consensus remains “Moderate Buy.”
• First Community reported quarterly EPS of $0.84, exceeding the $0.69 consensus estimate, while revenue of $25.14 million also topped expectations.
• Shares opened at $34.35, near the company’s 52-week high, while an executive sold 10,000 shares for $345,200. Institutional investors and hedge funds own 61.25% of the stock.

First Community (NASDAQ:FCCO - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

Several other equities analysts also recently weighed in on the stock. Hovde Group raised their price target on shares of First Community from $36.00 to $37.50 and gave the stock an "outperform" rating in a research note on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Community in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.50.

First Community Stock Performance

Shares of NASDAQ:FCCO opened at $34.35 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81. The business's 50 day moving average price is $32.95 and its 200-day moving average price is $30.85. The firm has a market capitalization of $322.89 million, a PE ratio of 12.82 and a beta of 0.34. First Community has a 1 year low of $25.66 and a 1 year high of $35.74.

First Community (NASDAQ:FCCO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.69 by $0.15. First Community had a return on equity of 13.23% and a net margin of 18.32%.The firm had revenue of $25.14 million during the quarter, compared to analysts' expectations of $24.69 million. As a group, equities research analysts expect that First Community will post 3.13 earnings per share for the current fiscal year.

Insider Activity at First Community

In other news, EVP Fred Joseph Deutsch sold 10,000 shares of the business's stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total transaction of $345,200.00. Following the transaction, the executive vice president owned 18,468 shares of the company's stock, valued at approximately $637,515.36. The trade was a 35.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Community

Several hedge funds and other institutional investors have recently bought and sold shares of FCCO. Advisory Services Network LLC acquired a new position in First Community in the 3rd quarter valued at about $26,000. BNP Paribas Financial Markets grew its stake in shares of First Community by 324.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank's stock valued at $33,000 after buying an additional 1,031 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of First Community during the 2nd quarter worth approximately $99,000. New York State Common Retirement Fund acquired a new stake in shares of First Community during the 2nd quarter worth approximately $102,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of First Community during the 2nd quarter valued at approximately $182,000. 61.25% of the stock is currently 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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