StockNews.com cut shares of First Community (NASDAQ:FCCO – Free Report) from a hold rating to a sell rating in a report issued on Friday morning.
Separately, Raymond James upgraded First Community from a market perform rating to an outperform rating and set a $21.00 price target on the stock in a report on Thursday, January 25th.
Read Our Latest Report on First Community
First Community Stock Up 0.3 %
First Community (NASDAQ:FCCO – Get Free Report) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. First Community had a return on equity of 8.69% and a net margin of 12.32%. The business had revenue of $24.44 million for the quarter, compared to analyst estimates of $14.83 million. As a group, equities analysts anticipate that First Community will post 1.55 earnings per share for the current year.
First Community Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Investors of record on Tuesday, April 30th will be issued a $0.14 dividend. The ex-dividend date is Monday, April 29th. This represents a $0.56 annualized dividend and a yield of 3.50%. First Community’s dividend payout ratio (DPR) is currently 39.16%.
Institutional Trading of First Community
Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG raised its holdings in First Community by 314.7% in the 3rd quarter. UBS Group AG now owns 1,833 shares of the bank’s stock valued at $32,000 after buying an additional 1,391 shares during the period. BNP Paribas Arbitrage SNC raised its holdings in First Community by 4,253.3% in the 2nd quarter. BNP Paribas Arbitrage SNC now owns 1,959 shares of the bank’s stock valued at $34,000 after buying an additional 1,914 shares during the period. Citigroup Inc. purchased a new stake in First Community in the 2nd quarter valued at about $38,000. California State Teachers Retirement System purchased a new stake in First Community in the 2nd quarter valued at about $43,000. Finally, MetLife Investment Management LLC purchased a new stake in First Community in the 2nd quarter valued at about $70,000. 61.25% of the stock is currently owned by hedge funds and other institutional investors.
About First Community
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.
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