If i meet a friend's friend and he/she says よろしくお願いします, would people usually
say こちらこそ?

I saw this in the NHK japanese lesson page and was wondering if this is
considered very formal and weird if i used it in a casual setting.
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2018-04-11T17:27:11.317
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2019-05-01T22:07:34.417
2019-05-01T22:07:34.417
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question
greetings formality
How common is こちらこそ used? Is it considered very formal?