First Community (NASDAQ:FCCO) Announces Quarterly Earnings Results

First Community (NASDAQ:FCCO) issued its quarterly earnings data on Wednesday. The bank reported $0.34 earnings per share (EPS) for the quarter, meeting 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 during the quarter, compared to the consensus estimate of $14.83 million.

First Community Trading Up 0.3 %

FCCO stock opened at $16.00 on Friday. The company has a market cap of $122.08 million, a P/E ratio of 11.19 and a beta of 0.43. First Community has a twelve month low of $15.40 and a twelve month high of $22.00. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average of $16.80 and a 200-day moving average of $17.91.

First Community Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. StockNews.com downgraded First Community from a “hold” rating to a “sell” rating in a research report on Friday. Raymond James upgraded First Community from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Thursday, January 25th.

Institutional Investors Weigh In On First Community

A number of institutional investors and hedge funds have recently made changes to their positions in FCCO. UBS Group AG raised its position 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 worth $32,000 after acquiring an additional 1,391 shares during the last quarter. BNP Paribas Arbitrage SNC raised its position 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 worth $34,000 after acquiring an additional 1,914 shares during the last quarter. Citigroup Inc. bought a new stake in shares of First Community during the second quarter worth $38,000. California State Teachers Retirement System bought a new stake in shares of First Community during the second quarter worth $43,000. Finally, MetLife Investment Management LLC bought a new stake in shares of First Community during the second quarter worth $70,000. Institutional investors own 61.25% of the company’s stock.

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.