First Community (NASDAQ:FCCO) Posts Quarterly Earnings Results, Meets Estimates

First Community (NASDAQ:FCCO) issued its quarterly earnings results on Wednesday. The bank reported $0.34 earnings per share for the quarter, hitting the consensus estimate of $0.34, Yahoo Finance reports. The company had revenue of $24.44 million during the quarter, compared to analysts’ expectations 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 First Community stock opened at $15.95 on Friday. The firm has a 50-day moving average of $16.83 and a 200-day moving average of $17.92. The stock has a market cap of $121.70 million, a PE ratio of 11.15 and a beta of 0.43. First Community has a 52-week low of $15.40 and a 52-week high of $22.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 0.78.

First Community Dividend Announcement

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

Analysts Set New Price Targets

FCCO has been the subject of several analyst reports. StockNews.com raised shares of First Community from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th. Raymond James upgraded shares of First Community from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Thursday, January 25th.

Institutional Investors Weigh In On First Community

Institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of First Community by 137.0% in the second quarter. Bank of New York Mellon Corp now owns 31,621 shares of the bank’s stock valued at $549,000 after acquiring an additional 18,279 shares during the period. Ancora Advisors LLC lifted its position in First Community by 3.5% during the first quarter. Ancora Advisors LLC now owns 34,991 shares of the bank’s stock worth $700,000 after purchasing an additional 1,170 shares during the period. Susquehanna International Group LLP lifted its position in First Community by 79.7% during the first quarter. Susquehanna International Group LLP now owns 22,884 shares of the bank’s stock worth $458,000 after purchasing an additional 10,148 shares during the period. Wellington Management Group LLP lifted its position in First Community by 0.8% during the first quarter. Wellington Management Group LLP now owns 105,815 shares of the bank’s stock worth $2,116,000 after purchasing an additional 852 shares during the period. Finally, rhino investment partners Inc lifted its position in First Community by 232.9% during the fourth quarter. rhino investment partners Inc now owns 103,434 shares of the bank’s stock worth $2,264,000 after purchasing an additional 72,366 shares during the period. Institutional investors own 61.25% of the company’s stock.

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.