First Community (NASDAQ:FCCO) Posts Earnings Results, Hits Estimates

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

First Community Price Performance

FCCO opened at $15.95 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.78 and a quick ratio of 0.77. The company has a market capitalization of $121.70 million, a price-to-earnings ratio of 11.15 and a beta of 0.43. First Community has a 1 year low of $15.40 and a 1 year high of $22.00. The firm’s fifty day moving average price is $16.83 and its two-hundred day moving average price is $17.92.

First Community Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be given a dividend of $0.14 per share. 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 39.16%.

Wall Street Analyst Weigh In

FCCO has been the subject of several recent research reports. Raymond James upgraded First Community from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Thursday, January 25th. StockNews.com upgraded shares of First Community from a “sell” rating to a “hold” rating in a research note on Thursday, January 25th.

Hedge Funds Weigh In On First Community

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in First Community by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 405,949 shares of the bank’s stock worth $8,740,000 after buying an additional 12,029 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in First Community during the fourth quarter valued at $138,000. Barclays PLC grew its holdings in First Community by 188.5% during the fourth quarter. Barclays PLC now owns 13,281 shares of the bank’s stock valued at $286,000 after purchasing an additional 8,677 shares during the period. Nuveen Asset Management LLC purchased a new stake in First Community in the fourth quarter worth $218,000. Finally, Advisory Services Network LLC bought a new stake in shares of First Community in the fourth quarter valued at $90,000. Hedge funds and other institutional investors own 61.25% of the company’s stock.

First Community Company Profile

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.