First Community Co. (FCCO) to Issue Quarterly Dividend of $0.14 on May 14th

First Community Co. (NASDAQ:FCCO) declared a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Stockholders of record on Tuesday, April 30th will be given a dividend of 0.14 per share by the bank on Tuesday, May 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, April 29th.

First Community has increased its dividend payment by an average of 5.3% annually over the last three years and has increased its dividend every year for the last 2 years. First Community has a dividend payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Community to earn $1.92 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 29.2%.

First Community Price Performance

Shares of NASDAQ:FCCO remained flat at $15.95 during trading on Thursday. 18,249 shares of the stock were exchanged, compared to its average volume of 21,747. The business’s 50-day simple moving average is $16.85 and its two-hundred day simple moving average is $17.93. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.80. First Community has a fifty-two week low of $15.40 and a fifty-two week high of $22.00. The company has a market capitalization of $121.70 million, a price-to-earnings ratio of 10.39 and a beta of 0.43.

First Community (NASDAQ:FCCO) last announced its quarterly earnings data on Wednesday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.34. The company 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 9.43% and a net margin of 14.25%. On average, sell-side analysts anticipate that First Community will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on FCCO. Raymond James upgraded First Community from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research note on Thursday, January 25th. StockNews.com upgraded shares of First Community from a “sell” rating to a “hold” rating in a report on Thursday, January 25th.

Institutional Trading of First Community

A number of hedge funds have recently bought and sold shares of FCCO. The Manufacturers Life Insurance Company raised its position in shares of First Community by 1.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 409,357 shares of the bank’s stock worth $8,678,000 after acquiring an additional 4,305 shares in the last quarter. Vanguard Group Inc. grew its stake in First Community by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 405,949 shares of the bank’s stock valued at $8,740,000 after purchasing an additional 12,029 shares during the last quarter. BlackRock Inc. raised its holdings in 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 in the last quarter. Fourthstone LLC lifted its position in shares of First Community by 50.9% during the first 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 during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of First Community by 93.8% during the second quarter. Geode Capital Management LLC now owns 133,776 shares of the bank’s stock valued at $2,322,000 after buying an additional 64,743 shares during the last quarter. Hedge funds and other institutional investors own 61.25% of the company’s stock.

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.