First Community (NASDAQ:FCCO) Issues Quarterly Earnings Results, Meets Expectations

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

First Community Stock Performance

Shares of FCCO stock opened at $15.95 on Friday. The company has a market capitalization 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 business’s fifty day moving average is $16.83 and its 200 day moving average is $17.92. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on FCCO shares. 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 target on the stock in a report on Thursday, January 25th.

Hedge Funds Weigh In On First Community

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of First Community by 669.9% in the second quarter. BlackRock Inc. now owns 334,490 shares of the bank’s stock worth $5,807,000 after purchasing an additional 291,045 shares during the last quarter. Fourthstone LLC raised its position in shares of First Community by 50.9% during the 1st quarter. Fourthstone LLC now owns 280,735 shares of the bank’s stock valued at $5,952,000 after buying an additional 94,705 shares in the last quarter. rhino investment partners Inc lifted its holdings in shares of First Community by 232.9% during the 4th quarter. rhino investment partners Inc now owns 103,434 shares of the bank’s stock worth $2,264,000 after acquiring an additional 72,366 shares during the last quarter. Geode Capital Management LLC grew its position in First Community by 93.8% in the second quarter. Geode Capital Management LLC now owns 133,776 shares of the bank’s stock worth $2,322,000 after acquiring an additional 64,743 shares in the last quarter. Finally, State Street Corp increased its stake in First Community by 282.6% in the second quarter. State Street Corp now owns 79,552 shares of the bank’s stock valued at $1,381,000 after acquiring an additional 58,757 shares during the last quarter. 61.25% of the stock is currently owned by hedge funds and other institutional investors.

About First Community

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.