Brokerages forecast that First Community Co. (NASDAQ:FCCO) will report $11.65 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for First Community’s earnings, with estimates ranging from $11.59 million to $11.70 million. First Community reported sales of $9.69 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.2%. The business is scheduled to report its next earnings report on Wednesday, July 18th.
On average, analysts expect that First Community will report full year sales of $46.62 million for the current year, with estimates ranging from $46.40 million to $46.83 million. For the next year, analysts anticipate that the company will post sales of $49.33 million per share, with estimates ranging from $48.70 million to $49.95 million. Zacks’ sales calculations are an average based on a survey of research firms that cover First Community.
First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, April 18th. The bank reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.04. The firm had revenue of $11.17 million for the quarter, compared to analyst estimates of $10.83 million. First Community had a net margin of 15.38% and a return on equity of 8.75%.
A number of equities research analysts have recently weighed in on FCCO shares. Zacks Investment Research raised shares of First Community from a “sell” rating to a “hold” rating in a research note on Monday, March 26th. ValuEngine lowered shares of First Community from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd.
Shares of FCCO traded up $0.05 during trading hours on Monday, reaching $24.45. 21,245 shares of the company traded hands, compared to its average volume of 16,727. The firm has a market capitalization of $180.90 million, a price-to-earnings ratio of 22.48 and a beta of 0.69. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.14. First Community has a 12 month low of $19.50 and a 12 month high of $24.87.
In related news, insider Michael C. Crapps sold 1,262 shares of First Community stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $23.00, for a total transaction of $29,026.00. Following the completion of the transaction, the insider now directly owns 68,196 shares of the company’s stock, valued at approximately $1,568,508. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 7.38% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp purchased a new position in First Community during the 4th quarter valued at about $240,000. Millennium Management LLC purchased a new position in First Community during the 4th quarter valued at about $245,000. Deutsche Bank AG lifted its position in First Community by 44.8% during the 4th quarter. Deutsche Bank AG now owns 10,825 shares of the bank’s stock valued at $244,000 after acquiring an additional 3,350 shares during the period. Abacus Planning Group Inc. purchased a new position in First Community during the 1st quarter valued at about $258,000. Finally, Wells Fargo & Company MN lifted its position in First Community by 528.5% during the 4th quarter. Wells Fargo & Company MN now owns 13,809 shares of the bank’s stock valued at $313,000 after acquiring an additional 11,612 shares during the period. 41.25% of the stock is owned by institutional investors.
About First Community
First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals. The company operates through four segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Community Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Community and related companies with MarketBeat.com's FREE daily email newsletter.