Equities research analysts at Hovde Group assumed coverage on shares of First Choice Bancorp (NASDAQ:FCBP) in a report released on Friday. The brokerage set an “outperform” rating and a $31.00 price target on the stock. Hovde Group’s target price would suggest a potential upside of 13.06% from the stock’s previous close.

FCBP traded up $0.06 during midday trading on Friday, reaching $27.42. The company had a trading volume of 4,177 shares, compared to its average volume of 8,836. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.14 and a current ratio of 1.15. First Choice Bancorp has a 1 year low of $24.00 and a 1 year high of $33.50.

First Choice Bancorp (NASDAQ:FCBP) last released its earnings results on Wednesday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter. The business had revenue of $11.60 million for the quarter.

In other First Choice Bancorp news, Chairman Peter Hui bought 4,820 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The stock was purchased at an average price of $29.12 per share, for a total transaction of $140,358.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pravin Pranav bought 1,113 shares of the business’s stock in a transaction that occurred on Monday, June 4th. The shares were acquired at an average price of $29.25 per share, with a total value of $32,555.25. The disclosure for this purchase can be found here. Insiders have purchased 6,869 shares of company stock valued at $199,929 in the last quarter.

Several large investors have recently added to or reduced their stakes in FCBP. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of First Choice Bancorp during the second quarter worth about $8,740,000. Bank of New York Mellon Corp purchased a new stake in shares of First Choice Bancorp during the second quarter worth about $608,000. Salzhauer Michael purchased a new stake in shares of First Choice Bancorp during the second quarter worth about $302,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of First Choice Bancorp during the second quarter worth about $406,000. Finally, BlackRock Inc. purchased a new stake in shares of First Choice Bancorp during the second quarter worth about $8,816,000. Hedge funds and other institutional investors own 13.29% of the company’s stock.

First Choice Bancorp Company Profile

First Choice Bancorp operates as the bank holding company for First Choice Bank that provides retail, personal, and commercial banking products and services to individuals, families, and small and medium-sized businesses. It offers interest and noninterest-bearing demand deposit, money market and savings accounts, remote deposit products, and time certificates of deposit; and loan products, such as construction and land development, residential real estate, commercial real estate, commercial and industrial, and small business administration (SBA) and consumer loans, as well as startup funds to entrepreneurs.

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