First Community (NASDAQ:FCCO) Issues Earnings Results

First Community (NASDAQ:FCCO) announced its earnings results on Wednesday. The bank reported $0.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.34, Yahoo Finance reports. The business had revenue of $24.44 million during the quarter, compared to analyst estimates of $14.83 million. First Community had a net margin of 12.32% and a return on equity of 8.69%.

First Community Stock Performance

Shares of FCCO stock opened at $15.95 on Friday. First Community has a 1 year low of $15.40 and a 1 year high of $22.00. The firm has a fifty day moving average price of $16.83 and a 200-day moving average price of $17.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market cap of $121.70 million, a price-to-earnings ratio of 11.15 and a beta of 0.43.

First Community Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, April 29th. First Community’s payout ratio is 39.16%.

Institutional Investors Weigh In On First Community

A number of hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in First Community by 1.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 409,357 shares of the bank’s stock worth $8,678,000 after buying an additional 4,305 shares during the period. Vanguard Group Inc. boosted its holdings in First Community by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 405,949 shares of the bank’s stock worth $8,740,000 after buying an additional 12,029 shares during the period. BlackRock Inc. boosted its holdings in First Community by 669.9% in the 2nd quarter. BlackRock Inc. now owns 334,490 shares of the bank’s stock worth $5,807,000 after buying an additional 291,045 shares during the period. Fourthstone LLC boosted its holdings in First Community by 50.9% in the 1st quarter. Fourthstone LLC now owns 280,735 shares of the bank’s stock worth $5,952,000 after buying an additional 94,705 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in First Community by 93.8% in the 2nd quarter. Geode Capital Management LLC now owns 133,776 shares of the bank’s stock worth $2,322,000 after buying an additional 64,743 shares during the period. Institutional investors own 61.25% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FCCO. StockNews.com upgraded shares of First Community from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Raymond James raised shares of First Community from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Thursday, January 25th.

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.