First Community (NASDAQ:FCCO) Issues Quarterly Earnings Results

First Community (NASDAQ:FCCO) issued its earnings results 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 for the quarter, compared to analyst estimates of $14.83 million.

First Community Price Performance

Shares of FCCO opened at $16.00 on Friday. The firm has a market capitalization of $122.08 million, a price-to-earnings ratio of 11.19 and a beta of 0.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 0.78. First Community has a one year low of $15.40 and a one year high of $22.00. The stock’s fifty day moving average is $16.80 and its 200-day moving average is $17.91.

First Community Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. UBS Group AG increased its holdings in shares of First Community by 314.7% during the third quarter. UBS Group AG now owns 1,833 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,391 shares during the period. BNP Paribas Arbitrage SNC increased its holdings in shares of First Community by 4,253.3% during the second quarter. BNP Paribas Arbitrage SNC now owns 1,959 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,914 shares during the period. Citigroup Inc. acquired a new position in shares of First Community during the second quarter valued at $38,000. California State Teachers Retirement System acquired a new position in shares of First Community during the second quarter valued at $43,000. Finally, MetLife Investment Management LLC acquired a new position in shares of First Community during the second quarter valued at $70,000. 61.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCCO has been the topic of several analyst reports. Raymond James raised First Community from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock 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.

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.