First Community (NASDAQ:FCCO) Upgraded by Wall Street Zen to Buy Rating

Key Points

• Wall Street Zen upgraded First Community (NASDAQ: FCCO) from “Hold” to “Buy,” while Weiss Ratings reaffirmed its “Buy” rating. Analysts’ average rating is “Moderate Buy,” with a $34.00 average price target.
• First Community reported quarterly EPS of $0.84, beating the $0.69 consensus estimate, while revenue of $25.14 million also exceeded expectations.
• FCCO shares opened at $34.16, near their 52-week high of $35.74. Institutional investors own 61.25% of the stock, while an executive recently sold 10,000 shares at an average price of $34.52.

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

Separately, Weiss Ratings restated 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 stock. According to MarketBeat, First Community presently has an average rating of "Moderate Buy" and an average price target of $34.00.

First Community Trading Up 0.1%

Shares of FCCO stock opened at $34.16 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market capitalization of $321.04 million, a P/E ratio of 12.75 and a beta of 0.34. The company has a 50 day moving average price of $32.18 and a 200 day moving average price of $30.51. First Community has a fifty-two week low of $24.12 and a fifty-two week high of $35.74.

First Community (NASDAQ:FCCO - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.15. The firm had revenue of $25.14 million for the quarter, compared to the consensus estimate of $24.69 million. First Community had a net margin of 18.32% and a return on equity of 14.03%. Equities research analysts predict that First Community will post 3.13 EPS for the current fiscal year.

Insider Activity at First Community

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the company's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total value of $345,200.00. Following the completion of the sale, the executive vice president owned 18,468 shares in the company, valued at $637,515.36. This represents a 35.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC purchased a new position in shares of First Community during the first quarter worth about $8,430,000. Maltese Capital Management LLC lifted its position in First Community by 5.3% during the 4th quarter. Maltese Capital Management LLC now owns 252,500 shares of the bank's stock worth $7,487,000 after acquiring an additional 12,769 shares during the period. Dimensional Fund Advisors LP lifted its position in First Community by 11.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 205,992 shares of the bank's stock worth $6,021,000 after acquiring an additional 20,970 shares during the period. Millennium Management LLC grew its stake in shares of First Community by 115.5% in the 1st quarter. Millennium Management LLC now owns 195,527 shares of the bank's stock valued at $4,411,000 after purchasing an additional 104,796 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First Community by 103.4% in the 2nd quarter. Geode Capital Management LLC now owns 174,732 shares of the bank's stock valued at $4,260,000 after purchasing an additional 88,807 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.