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

First Community (NASDAQ:FCCO) released its quarterly earnings data 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 the consensus estimate of $14.83 million. First Community had a return on equity of 8.69% and a net margin of 12.32%.

First Community Stock Up 0.3 %

Shares of First Community stock opened at $16.00 on Friday. First Community has a 1 year low of $15.40 and a 1 year high of $22.00. The business has a 50-day moving average of $16.80 and a two-hundred day moving average of $17.91. The company has a market capitalization of $122.08 million, a P/E ratio of 11.19 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a $0.14 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.56 annualized dividend and a dividend yield of 3.50%. First Community’s dividend payout ratio (DPR) is currently 39.16%.

Analysts Set New Price Targets

A number of research firms recently commented on FCCO. 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 downgraded First Community from a “hold” rating to a “sell” rating in a report on Friday.

Institutional Investors Weigh In On First Community

Large investors have recently modified their holdings of the business. UBS Group AG increased its holdings in shares of First Community by 314.7% in the third quarter. UBS Group AG now owns 1,833 shares of the bank’s stock worth $32,000 after acquiring an additional 1,391 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its position in First Community by 4,253.3% during the second quarter. BNP Paribas Arbitrage SNC now owns 1,959 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,914 shares during the last quarter. Citigroup Inc. acquired a new position in First Community during the second quarter valued at approximately $38,000. California State Teachers Retirement System acquired a new position in First Community during the second quarter valued at approximately $43,000. Finally, MetLife Investment Management LLC acquired a new position in First Community during the second quarter valued at approximately $70,000. 61.25% of the stock is currently owned by institutional investors.

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.