First Community (NASDAQ:FCCO) Announces Quarterly Earnings Results

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

First Community Stock Performance

Shares of FCCO stock opened at $15.95 on Friday. The company has a fifty day moving average price of $16.83 and a two-hundred day moving average price of $17.92. First Community has a one year low of $15.40 and a one year high of $22.00. The stock has a market cap 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.14 per share. The ex-dividend date is Monday, April 29th. This represents a $0.56 dividend on an annualized basis and a yield of 3.51%. First Community’s payout ratio is 39.16%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. StockNews.com raised shares of First Community from a “sell” rating to a “hold” rating in a research report on Thursday, January 25th. 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.

Institutional Investors Weigh In On First Community

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its position in First Community by 31.4% during the first quarter. BlackRock Inc. now owns 51,604 shares of the bank’s stock worth $1,094,000 after buying an additional 12,340 shares during the last quarter. Fourthstone LLC increased its holdings in shares of First Community by 50.9% during the 1st quarter. Fourthstone LLC now owns 280,735 shares of the bank’s stock worth $5,952,000 after acquiring an additional 94,705 shares during the last quarter. State Street Corp raised its stake in First Community by 8.6% in the 1st 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 period. The Manufacturers Life Insurance Company boosted its position in First Community by 1.1% during the first quarter. The Manufacturers Life Insurance Company now owns 409,357 shares of the bank’s stock worth $8,678,000 after purchasing an additional 4,305 shares during the period. Finally, 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 valued at $32,000 after purchasing an additional 1,391 shares during the last quarter. 61.25% of the stock is owned by institutional investors.

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.