First Community (NASDAQ:FCCO) Upgraded at Raymond James

First Community (NASDAQ:FCCO) was upgraded by equities researchers at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a $30.00 price target on the bank’s stock, up from their prior price target of $27.00. Raymond James’ price target suggests a potential upside of 22.10% from the company’s current price.

First Community Stock Performance

Shares of FCCO opened at $24.57 on Thursday. The business’s 50 day moving average is $24.60 and its two-hundred day moving average is $22.63. First Community has a 52-week low of $15.40 and a 52-week high of $26.48. The firm has a market cap of $187.71 million, a price-to-earnings ratio of 14.54 and a beta of 0.42. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.45.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. First Community had a return on equity of 9.57% and a net margin of 12.99%. During the same period last year, the business posted $0.43 EPS. Analysts forecast that First Community will post 1.76 EPS for the current fiscal year.

Hedge Funds Weigh In On First Community

A number of institutional investors have recently made changes to their positions in the business. Independent Advisor Alliance raised its position in shares of First Community by 0.7% during the 3rd quarter. Independent Advisor Alliance now owns 105,945 shares of the bank’s stock valued at $2,271,000 after acquiring an additional 690 shares in the last quarter. Hunter Perkins Capital Management LLC raised its position in shares of First Community by 0.5% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 182,441 shares of the bank’s stock valued at $4,379,000 after acquiring an additional 850 shares in the last quarter. State Street Corp raised its position in shares of First Community by 5.6% during the 3rd quarter. State Street Corp now owns 22,795 shares of the bank’s stock valued at $489,000 after acquiring an additional 1,200 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of First Community during the 2nd quarter valued at approximately $58,000. Finally, Geode Capital Management LLC raised its position in shares of First Community by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 83,088 shares of the bank’s stock valued at $1,782,000 after acquiring an additional 5,157 shares in the last quarter. 61.25% of the stock is owned by institutional investors and hedge funds.

First Community Company Profile

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.