Pinnacle Holdings LLC Takes Position in First Community Corporation $FCCO

Pinnacle Holdings LLC acquired a new position in shares of First Community Corporation (NASDAQ:FCCO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 46,087 shares of the bank’s stock, valued at approximately $1,506,000. Pinnacle Holdings LLC owned about 0.49% of First Community at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Advisory Services Network LLC acquired a new position in First Community during the third quarter worth approximately $26,000. BNP Paribas Financial Markets increased its holdings in shares of First Community by 324.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock worth $33,000 after acquiring an additional 1,031 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in First Community in the 2nd quarter valued at $99,000. New York State Common Retirement Fund acquired a new stake in First Community during the 2nd quarter valued at $102,000. Finally, Raymond James Financial Inc. bought a new position in First Community during the second quarter worth $182,000. 61.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total transaction of $345,200.00. Following the transaction, the executive vice president owned 18,468 shares in the company, valued at $637,515.36. The trade was a 35.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.84% of the stock is owned by insiders.

Analyst Ratings Changes

FCCO has been the subject of a number of research reports. Wall Street Zen cut shares of First Community from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Hovde Group upped their price target on shares of First Community from $36.00 to $37.50 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.50.

First Community Price Performance

Shares of First Community stock opened at $33.72 on Monday. The stock’s 50-day moving average is $33.18 and its 200 day moving average is $31.03. First Community Corporation has a one year low of $25.92 and a one year high of $35.74. The firm has a market cap of $316.97 million, a price-to-earnings ratio of 12.58 and a beta of 0.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81.

First Community (NASDAQ:FCCO) last issued its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.15. The firm had revenue of $25.14 million for the quarter, compared to analyst estimates of $24.69 million. First Community had a return on equity of 13.23% and a net margin of 18.32%. Equities research analysts anticipate that First Community Corporation will post 3.13 EPS for the current year.

First Community Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were paid a $0.17 dividend. The ex-dividend date was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.0%. This is an increase from First Community’s previous quarterly dividend of $0.16. First Community’s dividend payout ratio (DPR) is presently 25.37%.

First Community Profile

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.