Wall Street Zen upgraded shares of First Community (NASDAQ:FCCO – Free Report) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.
Other equities research analysts also recently issued reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a report on Friday, July 17th. Hovde Group increased their target price on First Community from $36.00 to $37.50 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $37.50.
View Our Latest Report on FCCO
First Community Price Performance
First Community (NASDAQ:FCCO – Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.15. First Community had a net margin of 18.32% and a return on equity of 13.23%. The business had revenue of $25.14 million for the quarter, compared to analysts’ expectations of $24.69 million. As a group, equities research analysts anticipate that First Community will post 3.14 earnings per share for the current fiscal year.
First Community Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, August 4th. This is a positive change from First Community’s previous quarterly dividend of $0.16. First Community’s payout ratio is currently 25.37%.
Insider Buying and Selling
In other First Community news, EVP Fred Joseph Deutsch sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total value of $345,200.00. Following the transaction, the executive vice president directly owned 18,468 shares in the company, valued at $637,515.36. The trade was a 35.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jane S. Sosebee acquired 1,250 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $33.95 per share, for a total transaction of $42,437.50. Following the completion of the purchase, the director directly owned 10,855 shares of the company’s stock, valued at approximately $368,527.25. The trade was a 13.01% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 8.84% of the stock is currently owned by corporate insiders.
Institutional Trading of First Community
Several hedge funds have recently modified their holdings of FCCO. Burkett Financial Services LLC raised its stake in shares of First Community by 154.8% in the third quarter. Burkett Financial Services LLC now owns 762 shares of the bank’s stock valued at $25,000 after acquiring an additional 463 shares during the last quarter. Anchor Investment Management LLC grew its position in First Community by 3.2% during the 2nd quarter. Anchor Investment Management LLC now owns 36,930 shares of the bank’s stock worth $1,207,000 after acquiring an additional 1,154 shares during the last quarter. Squarepoint Ops LLC grew its position in First Community by 18.2% during the 2nd quarter. Squarepoint Ops LLC now owns 72,464 shares of the bank’s stock worth $2,368,000 after acquiring an additional 11,141 shares during the last quarter. Hsbc Holdings PLC increased its holdings in First Community by 51.0% during the 2nd quarter. Hsbc Holdings PLC now owns 28,590 shares of the bank’s stock valued at $928,000 after purchasing an additional 9,652 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in First Community during the 2nd quarter valued at $195,000. Institutional investors and hedge funds own 61.25% of the company’s stock.
First Community Company Profile
First Community Corporation is the bank holding company for First Community Bank, a community-focused financial institution headquartered in Lexington, South Carolina. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and nonprofit organizations.
First Community Bank offers deposit accounts, consumer and commercial loans, residential mortgage lending, home equity products, and other business banking services. Its offerings also include treasury management, online and mobile banking, and wealth management services designed to support customers’ personal and business financial needs.
First Community serves customers through offices and digital banking channels in South Carolina, with a presence in the Midlands and other selected markets in the state.
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