First Community Corporation (NASDAQ:FCCO) Sees Large Increase in Short Interest

First Community Corporation (NASDAQ:FCCO) was the target of a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 81,211 shares, an increase of 21.7% from the January 15th total of 66,746 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 88,041 shares, the days-to-cover ratio is presently 0.9 days. Based on an average daily volume of 88,041 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

FCCO has been the topic of several analyst reports. Hovde Group lifted their price target on shares of First Community from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, First Community has an average rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Investors Weigh In On First Community

Several large investors have recently made changes to their positions in FCCO. Rosenthal Henry Capital Advisors Inc. bought a new stake in First Community in the 3rd quarter worth approximately $997,000. Los Angeles Capital Management LLC purchased a new position in shares of First Community in the second quarter valued at $992,000. Fourthstone LLC increased its position in First Community by 193.6% in the second quarter. Fourthstone LLC now owns 559,185 shares of the bank’s stock worth $13,633,000 after purchasing an additional 368,747 shares during the last quarter. SummerHaven Investment Management LLC purchased a new stake in First Community during the third quarter valued at $944,000. Finally, Maltese Capital Management LLC lifted its position in First Community by 5.3% during the fourth quarter. Maltese Capital Management LLC now owns 252,500 shares of the bank’s stock valued at $7,487,000 after purchasing an additional 12,769 shares during the last quarter. 61.25% of the stock is owned by institutional investors.

First Community Trading Up 0.4%

Shares of First Community stock opened at $29.92 on Tuesday. First Community has a fifty-two week low of $19.46 and a fifty-two week high of $31.50. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $230.08 million, a P/E ratio of 12.11 and a beta of 0.38. The company has a fifty day moving average of $29.88 and a 200 day moving average of $28.28.

First Community (NASDAQ:FCCO) last released its quarterly earnings data on Wednesday, January 28th. The bank reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. First Community had a return on equity of 12.96% and a net margin of 16.85%.The firm had revenue of $20.60 million during the quarter, compared to analyst estimates of $20.25 million. On average, sell-side analysts anticipate that First Community will post 2.28 earnings per share for the current fiscal year.

First Community Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $0.64 annualized dividend and a yield of 2.1%. First Community’s payout ratio is presently 25.91%.

About First Community

First Community Financial Corp. (NASDAQ: FCCO) is the bank holding company for First Community Bank, a full-service commercial bank headquartered in Bluefield, West Virginia. Through its subsidiary, the company delivers a comprehensive range of financial services to individuals, small businesses and larger commercial clients. Its operations are focused on community banking, with an emphasis on personalized relationship management and local decision-making.

The company’s core offerings include deposit products such as checking and savings accounts, certificates of deposit and money market accounts, as well as consumer and commercial lending solutions.