Bridgeway Capital Management LLC Sells 10,332 Shares of First Community Co. (NASDAQ:FCCO)

Bridgeway Capital Management LLC cut its holdings in shares of First Community Co. (NASDAQ:FCCO) by 32.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,996 shares of the bank’s stock after selling 10,332 shares during the period. Bridgeway Capital Management LLC owned about 0.29% of First Community worth $528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC acquired a new position in First Community during the 4th quarter worth approximately $39,000. Marshall Wace LLP bought a new stake in shares of First Community during the fourth quarter worth $206,000. Wells Fargo & Company MN increased its holdings in shares of First Community by 419.8% during the fourth quarter. Wells Fargo & Company MN now owns 9,357 shares of the bank’s stock worth $225,000 after buying an additional 7,557 shares in the last quarter. Barclays PLC lifted its stake in shares of First Community by 214.0% in the 3rd quarter. Barclays PLC now owns 10,046 shares of the bank’s stock valued at $215,000 after acquiring an additional 6,847 shares during the last quarter. Finally, 683 Capital Management LLC bought a new position in shares of First Community in the 4th quarter valued at $333,000. 61.25% of the stock is currently owned by institutional investors.

First Community Stock Performance

Shares of First Community stock opened at $23.98 on Monday. The company has a market cap of $183.95 million, a P/E ratio of 13.25 and a beta of 0.36. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $22.43 and a two-hundred day moving average price of $24.06. First Community Co. has a 1-year low of $15.75 and a 1-year high of $27.96.

First Community (NASDAQ:FCCO) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.04. The firm had revenue of $18.37 million for the quarter, compared to analyst estimates of $17.39 million. First Community had a return on equity of 10.14% and a net margin of 13.49%. As a group, analysts anticipate that First Community Co. will post 2.28 EPS for the current year.

First Community Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 6th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Tuesday, May 6th. First Community’s payout ratio is 30.30%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Hovde Group upped their price target on shares of First Community from $28.00 to $29.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. Raymond James upgraded First Community from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $27.00 to $30.00 in a research report on Thursday, January 23rd. Finally, Janney Montgomery Scott raised First Community from a “neutral” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Tuesday, February 4th.

First Community 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.