First Community (NASDAQ:FCCO) Posts Quarterly Earnings Results, Hits Estimates

First Community (NASDAQ:FCCO) posted its quarterly earnings data on Wednesday. The bank reported $0.34 earnings per share for the quarter, hitting the consensus estimate 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 analyst estimates of $14.83 million.

First Community Stock Performance

Shares of FCCO opened at $16.00 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 0.78. The stock has a 50 day moving average price of $16.80 and a two-hundred day moving average price of $17.91. The firm has a market capitalization of $122.08 million, a P/E ratio of 11.19 and a beta of 0.43. First Community has a 52 week low of $15.40 and a 52 week high of $22.00.

First Community Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Tuesday, April 30th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Monday, April 29th. First Community’s dividend payout ratio is currently 39.16%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Raymond James raised First Community from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Thursday, January 25th. StockNews.com lowered First Community from a “hold” rating to a “sell” rating in a research report on Friday.

Institutional Trading of First Community

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG increased its holdings in First Community by 314.7% during the 3rd quarter. UBS Group AG now owns 1,833 shares of the bank’s stock worth $32,000 after purchasing an additional 1,391 shares in the last quarter. BNP Paribas Arbitrage SNC increased its holdings in First Community by 4,253.3% during the 2nd 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 in the last quarter. Citigroup Inc. bought a new stake in First Community during the 2nd quarter worth approximately $38,000. California State Teachers Retirement System bought a new stake in First Community during the 2nd quarter worth approximately $43,000. Finally, MetLife Investment Management LLC purchased a new position in shares of First Community in the 2nd quarter worth approximately $70,000. 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.