First Community Co. (NASDAQ:FCCO) Plans Quarterly Dividend of $0.14

First Community Co. (NASDAQ:FCCO) announced a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Shareholders 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 yield of 3.51%. The ex-dividend date is Monday, April 29th.

First Community has increased its dividend payment by an average of 5.3% per year over the last three years and has increased its dividend every year for the last 2 years. First Community has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. 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 First Community stock remained flat at $15.95 on Thursday. The stock had a trading volume of 18,249 shares, compared to its average volume of 21,747. First Community has a fifty-two week low of $15.40 and a fifty-two week high of $22.00. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.80. The stock has a market cap of $121.70 million, a PE ratio of 10.39 and a beta of 0.43. The stock’s fifty day moving average is $16.85 and its 200-day moving average is $17.93.

First Community (NASDAQ:FCCO) last issued its earnings results on Wednesday, April 17th. The bank reported $0.34 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.34. First Community had a return on equity of 9.43% and a net margin of 14.25%. The company had revenue of $24.44 million during the quarter, compared to analysts’ expectations of $14.83 million. Research analysts forecast that First Community will post 1.57 EPS for the current year.

Institutional Investors Weigh In On First Community

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FCCO. BlackRock Inc. increased its position in shares of First Community by 31.4% during the 1st quarter. BlackRock Inc. now owns 51,604 shares of the bank’s stock worth $1,094,000 after purchasing an additional 12,340 shares during the last quarter. Fourthstone LLC boosted its stake in First Community by 50.9% during the first quarter. Fourthstone LLC now owns 280,735 shares of the bank’s stock worth $5,952,000 after buying an additional 94,705 shares during the period. State Street Corp increased its position in shares of First Community by 8.6% during the first quarter. State Street Corp now owns 17,755 shares of the bank’s stock valued at $376,000 after acquiring an additional 1,413 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake 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 valued at $8,678,000 after acquiring an additional 4,305 shares during the period. Finally, UBS Group AG lifted its holdings 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 acquiring an additional 1,391 shares during the last quarter. Hedge funds and other institutional investors own 61.25% of the company’s stock.

Analysts Set New Price Targets

FCCO has been the subject of a number of analyst reports. Raymond James raised shares of 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 report on Thursday, January 25th.

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.