First Community (FCCO Quick QuoteFCCO - Free Report) shares soared 6.1% in the last trading session to close at $21.16. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 11% gain over the past four weeks.

Increasing optimism over an accelerated recovery of the banking sector driven by extensive vaccination drive, additional government spending and expectations of robust economic growth has been driving the stock higher, which touched a new 52-week high in the last day's trading session.

This holding company for First Community Bank is expected to post quarterly earnings of $0.41 per share in its upcoming report, which represents a year-over-year change of +70.8%. Revenues are expected to be $13.82 million, up 11.9% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For First Community, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on FCCO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 1 (Strong Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>