First Community (NASDAQ:FCCO) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

First Community (NASDAQ:FCCO) announced its quarterly earnings data on Wednesday. The bank reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.06, Zacks reports. The firm had revenue of $26.23 million for the quarter, compared to the consensus estimate of $26.01 million. First Community had a return on equity of 13.23% and a net margin of 18.32%.

First Community Trading Up 0.5%

FCCO opened at $32.77 on Thursday. The stock has a market capitalization of $308.04 million, a PE ratio of 12.23 and a beta of 0.33. First Community has a one year low of $26.42 and a one year high of $35.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82. The business’s 50 day moving average price is $33.29 and its 200 day moving average price is $32.21.

First Community Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Tuesday, November 3rd will be issued a $0.17 dividend. The ex-dividend date is Tuesday, November 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.1%. First Community’s dividend payout ratio is currently 25.37%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FCCO. Hovde Group raised their target price on First Community from $36.00 to $37.50 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Wall Street Zen cut shares of First Community from a “buy” rating to a “hold” rating in a research report on Sunday, October 11th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $37.50.

First Community News Roundup

Here are the key news stories impacting First Community this week:

• Positive Sentiment: Q3 earnings exceeded expectations: FCCO reported earnings of $0.86 per share, ahead of the $0.80 analyst consensus and up from $0.72 a year earlier. Revenue reached $26.23 million, slightly above the $26.01 million estimate. The bank also reported an 18.32% net margin and 13.23% return on equity. First Community Corporation Announces Third Quarter Results and Cash Dividend
• Positive Sentiment: Dividend maintained: First Community declared a quarterly cash dividend of $0.17 per share, equivalent to $0.68 annually and a roughly 2.1% yield. Shareholders of record on November 3 will receive the payment on November 17; the stock’s ex-dividend date is November 3. The payout may appeal to income-focused investors and signals continued confidence in cash generation. First Community Corp. Declares $0.17 Quarterly Dividend
• Neutral Sentiment: Credit-quality data disclosed: First Community also reported net charge-offs for the quarter ended September 30. The available report listing does not provide the charge-off amount or trend, so investors will need additional details to determine whether credit costs represent a meaningful risk to future bank earnings. First Community Corporation Reports Net Charge-Offs for the Third Quarter

Insiders Place Their Bets

In other First Community news, EVP Fred Joseph Deutsch sold 10,000 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total transaction of $345,200.00. Following the completion of the sale, the executive vice president owned 18,468 shares of the company’s stock, valued at $637,515.36. This trade represents a 35.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane Sosebee bought 1,250 shares of First Community stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $33.95 per share, for a total transaction of $42,437.50. Following the transaction, the director directly owned 10,855 shares of the company’s stock, valued at approximately $368,527.25. This trade represents a 13.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 24,800 shares of company stock valued at $849,140 over the last quarter. 8.84% of the stock is owned by insiders.

First Community Company Profile

First Community Corporation is a bank holding company headquartered in Lexington, South Carolina. Through its principal subsidiary, First Community Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

First Community Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing and other credit products. Its services also include online and mobile banking, treasury management, mortgage banking, wealth management and investment services.

Founded in 1995, First Community serves communities across South Carolina through a network of banking offices and digital channels.