First Community (NASDAQ:FCCO) Raised to Hold at ValuEngine

ValuEngine upgraded shares of First Community (NASDAQ:FCCO) from a sell rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research upgraded First Community from a sell rating to a hold rating in a report on Friday, August 2nd.

Shares of NASDAQ:FCCO opened at $18.50 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $19.19 and a two-hundred day moving average of $19.09. The stock has a market cap of $134.54 million, a P/E ratio of 12.90 and a beta of 0.86. First Community has a 52-week low of $17.08 and a 52-week high of $26.10.

First Community (NASDAQ:FCCO) last issued its earnings results on Wednesday, July 17th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $12.30 million during the quarter, compared to analysts’ expectations of $12.04 million. First Community had a return on equity of 9.59% and a net margin of 20.81%. On average, equities analysts anticipate that First Community will post 1.39 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, July 29th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, July 26th. First Community’s dividend payout ratio is presently 30.34%.

In other news, VP David K. Proctor sold 3,888 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $19.05, for a total transaction of $74,066.40. Following the completion of the transaction, the vice president now directly owns 21,349 shares in the company, valued at approximately $406,698.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.66% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in First Community by 2.6% in the fourth quarter. BlackRock Inc. now owns 359,482 shares of the bank’s stock valued at $6,986,000 after purchasing an additional 9,217 shares during the last quarter. Bank of New York Mellon Corp increased its stake in First Community by 21.9% in the fourth quarter. Bank of New York Mellon Corp now owns 33,467 shares of the bank’s stock valued at $650,000 after purchasing an additional 6,021 shares during the last quarter. Northern Trust Corp increased its stake in First Community by 1.0% in the fourth quarter. Northern Trust Corp now owns 67,759 shares of the bank’s stock valued at $1,317,000 after purchasing an additional 663 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in First Community by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 82,466 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 7,360 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in First Community by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 81,993 shares of the bank’s stock valued at $1,593,000 after purchasing an additional 3,241 shares during the last quarter. Institutional investors and hedge funds own 53.14% of the company’s stock.

About First Community

First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals. The company operates through four segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate.

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