First Community (NASDAQ:FCCO) Price Target Raised to $37.50

First Community (NASDAQ:FCCO) had its price objective boosted by Hovde Group from $36.00 to $37.50 in a research note released on Thursday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the bank’s stock.

A number of other equities analysts have also recently commented on FCCO. Wall Street Zen raised First Community from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a research note on Friday, July 17th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Community currently has an average rating of “Moderate Buy” and an average target price of $37.50.

First Community Stock Down 0.7%

Shares of NASDAQ:FCCO opened at $34.35 on Thursday. The stock has a market capitalization of $322.82 million, a P/E ratio of 12.82 and a beta of 0.34. The stock’s 50-day moving average price is $32.95 and its 200-day moving average price is $30.85. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. First Community has a 12-month low of $25.66 and a 12-month high of $35.74.

First Community (NASDAQ:FCCO) last released its earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.15. The company had revenue of $25.14 million during the quarter, compared to analyst estimates of $24.69 million. First Community had a return on equity of 13.23% and a net margin of 18.32%. On average, equities analysts anticipate that First Community will post 3.13 earnings per share for the current year.

First Community Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.0%. This is a positive change from First Community’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, August 4th. First Community’s payout ratio is currently 25.37%.

Insider Buying and Selling at First Community

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total value of $345,200.00. Following the sale, the executive vice president directly owned 18,468 shares of the company’s stock, valued at $637,515.36. This trade represents a 35.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.84% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Advisory Services Network LLC purchased a new stake in First Community in the 3rd quarter worth approximately $26,000. BNP Paribas Financial Markets increased its stake in shares of First Community by 324.2% during the second 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. purchased a new position in shares of First Community during the second quarter valued at approximately $99,000. New York State Common Retirement Fund purchased a new position in shares of First Community during the second quarter valued at approximately $102,000. Finally, Raymond James Financial Inc. bought a new position in shares of First Community during the second quarter valued at approximately $182,000. Institutional investors own 61.25% of the company’s stock.

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.