First Community Corporation (NASDAQ:FCCO – Get Free Report)’s share price passed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $33.10 and traded as low as $32.75. First Community shares last traded at $32.95, with a volume of 33,151 shares changing hands.
Analysts Set New Price Targets
Several brokerages have weighed in on FCCO. Wall Street Zen lowered First Community from a “buy” rating to a “hold” rating in a report on Sunday, October 11th. Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a research report on Thursday, October 15th. Finally, Hovde Group boosted their target price on First Community from $36.00 to $37.50 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $37.50.
View Our Latest Stock Report on First Community
First Community Stock Performance
The firm has a market capitalization of $309.73 million, a PE ratio of 11.52 and a beta of 0.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81. The company’s fifty day simple moving average is $33.10 and its 200 day simple moving average is $31.46.
First Community (NASDAQ:FCCO – Get Free Report) last issued its earnings results on Wednesday, October 21st. The bank reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06. The firm had revenue of $26.23 million during the quarter, compared to analyst estimates of $26.01 million. First Community had a net margin of 19.55% and a return on equity of 13.73%. As a group, equities research analysts expect that First Community Corporation will post 3.16 EPS for the current fiscal year.
First Community Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Tuesday, November 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, November 3rd. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. First Community’s payout ratio is 23.78%.
Insider Buying and Selling at First Community
In related news, Director Jane S. Sosebee purchased 1,250 shares of the business’s stock in a transaction dated Tuesday, August 25th. The stock was purchased at an average cost of $33.95 per share, with a total value of $42,437.50. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jonathan W. Been sold 14,800 shares of First Community stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $34.05, for a total value of $503,940.00. Following the completion of the transaction, the director owned 120,655 shares of the company’s stock, valued at approximately $4,108,302.75. This trade represents a 10.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 8.84% of the company’s stock.
Institutional Trading of First Community
A number of institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its stake in First Community by 31.4% in the 1st quarter. Renaissance Technologies LLC now owns 125,328 shares of the bank’s stock worth $3,663,000 after purchasing an additional 29,967 shares during the period. Pinnacle Holdings LLC purchased a new position in First Community during the 2nd quarter valued at about $1,506,000. Bank of New York Mellon Corp bought a new stake in shares of First Community during the second quarter valued at about $796,000. Hsbc Holdings PLC bought a new stake in shares of First Community during the fourth quarter valued at about $524,000. Finally, Lazard Asset Management LLC bought a new stake in shares of First Community during the first quarter valued at about $594,000. Hedge funds and other institutional investors own 61.25% of the company’s stock.
About First Community
First Community Corporation is the bank holding company for First Community Bank, a community-focused financial institution headquartered in Lexington, South Carolina. The company serves individuals, families, businesses and nonprofit organizations primarily in the Midlands and Upstate regions of South Carolina.
Through First Community Bank, the company offers a range of banking products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans and lines of credit.
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