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

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

First Community Stock Performance

Shares of NASDAQ FCCO opened at $15.95 on Friday. First Community has a 1-year low of $15.40 and a 1-year high of $22.00. The business has a fifty day moving average price of $16.83 and a 200 day moving average price of $17.92. The stock has a market capitalization of $121.70 million, a P/E ratio of 11.15 and a beta of 0.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.78 and a quick ratio of 0.77.

First Community Dividend Announcement

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

Hedge Funds Weigh In On First Community

A number of large investors have recently added to or reduced their stakes in FCCO. UBS Group AG grew its position in shares of First Community by 314.7% in the 3rd quarter. UBS Group AG now owns 1,833 shares of the bank’s stock worth $32,000 after buying an additional 1,391 shares during the last quarter. BNP Paribas Arbitrage SNC grew its holdings in First Community by 4,253.3% in the second quarter. BNP Paribas Arbitrage SNC now owns 1,959 shares of the bank’s stock worth $34,000 after purchasing an additional 1,914 shares during the last quarter. Citigroup Inc. acquired a new position in shares of First Community during the second quarter worth $38,000. California State Teachers Retirement System purchased a new stake in shares of First Community during the 2nd quarter valued at $43,000. Finally, MetLife Investment Management LLC purchased a new stake in shares of First Community during the 2nd quarter valued at $70,000. 61.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.