First Community (NASDAQ:FCCO) Upgraded at Janney Montgomery Scott

Janney Montgomery Scott upgraded shares of First Community (NASDAQ:FCCO) from a neutral rating to a buy rating in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have $30.00 price target on the bank’s stock.

Several other research firms have also recently issued reports on FCCO. Hovde Group boosted their target price on First Community from $28.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, January 23rd. Raymond James upgraded shares of First Community from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $27.00 to $30.00 in a report on Thursday, January 23rd.

First Community Trading Down 0.3 %

Shares of FCCO opened at $26.23 on Tuesday. The firm has a fifty day simple moving average of $24.84 and a two-hundred day simple moving average of $23.17. First Community has a twelve month low of $15.40 and a twelve month high of $27.28. The stock has a market capitalization of $200.40 million, a P/E ratio of 14.49 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 posted its earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.06. First Community had a return on equity of 10.14% and a net margin of 13.49%. During the same period in the previous year, the firm earned $0.43 EPS. On average, research analysts anticipate that First Community will post 2.15 EPS for the current year.

First Community Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Tuesday, February 4th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Tuesday, February 4th. First Community’s payout ratio is presently 33.15%.

Institutional Investors Weigh In On First Community

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in shares of First Community in the 4th quarter worth about $39,000. Cubist Systematic Strategies LLC bought a new stake in First Community during the second quarter worth about $58,000. Barclays PLC grew its holdings in First Community by 214.0% in the third quarter. Barclays PLC now owns 10,046 shares of the bank’s stock worth $215,000 after purchasing an additional 6,847 shares during the period. Squarepoint Ops LLC bought a new position in shares of First Community during the second quarter valued at approximately $261,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of First Community during the third quarter valued at approximately $289,000. 61.25% of the stock is owned by hedge funds and other institutional investors.

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.