Hsbc Holdings PLC Acquires Shares of 17,652 First Community Corporation $FCCO

Hsbc Holdings PLC acquired a new stake in shares of First Community Corporation (NASDAQ:FCCO) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 17,652 shares of the bank’s stock, valued at approximately $524,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Millennium Management LLC lifted its position in First Community by 115.5% in the 1st quarter. Millennium Management LLC now owns 195,527 shares of the bank’s stock valued at $4,411,000 after acquiring an additional 104,796 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in First Community by 1,230.5% during the 1st quarter. Jones Financial Companies Lllp now owns 12,640 shares of the bank’s stock valued at $285,000 after purchasing an additional 11,690 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in First Community by 199.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank’s stock worth $2,051,000 after purchasing an additional 60,596 shares in the last quarter. Empowered Funds LLC increased its holdings in First Community by 7.7% during the 1st quarter. Empowered Funds LLC now owns 10,080 shares of the bank’s stock worth $227,000 after purchasing an additional 721 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in shares of First Community by 63.7% in the first quarter. Jane Street Group LLC now owns 51,323 shares of the bank’s stock worth $1,158,000 after purchasing an additional 19,978 shares during the last quarter. 61.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b)” rating on shares of First Community in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, First Community currently has an average rating of “Moderate Buy” and an average target price of $34.00.

First Community Stock Performance

NASDAQ FCCO opened at $33.42 on Friday. The company has a fifty day moving average price of $31.38 and a 200-day moving average price of $30.22. The firm has a market cap of $314.15 million, a price-to-earnings ratio of 13.11 and a beta of 0.34. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81. First Community Corporation has a 1 year low of $24.12 and a 1 year high of $34.01.

First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, April 22nd. The bank reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.08. First Community had a net margin of 17.29% and a return on equity of 13.00%. The company had revenue of $23.16 million for the quarter, compared to analyst estimates of $23.61 million. As a group, equities research analysts predict that First Community Corporation will post 2.97 EPS for the current fiscal year.

First Community Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were paid a $0.16 dividend. The ex-dividend date was Tuesday, May 5th. This represents a $0.64 annualized dividend and a yield of 1.9%. First Community’s dividend payout ratio (DPR) is 25.10%.

First Community Profile

First Community Financial Corp. (NASDAQ: FCCO) is the bank holding company for First Community Bank, a full-service commercial bank headquartered in Bluefield, West Virginia. Through its subsidiary, the company delivers a comprehensive range of financial services to individuals, small businesses and larger commercial clients. Its operations are focused on community banking, with an emphasis on personalized relationship management and local decision-making.

The company’s core offerings include deposit products such as checking and savings accounts, certificates of deposit and money market accounts, as well as consumer and commercial lending solutions.