Abacus Planning Group Inc. Sells 4,204 Shares of First Community Co. (NASDAQ:FCCO)

Abacus Planning Group Inc. lowered its stake in First Community Co. (NASDAQ:FCCO) by 9.3% during the first quarter, HoldingsChannel.com reports. The firm owned 41,067 shares of the bank’s stock after selling 4,204 shares during the period. Abacus Planning Group Inc.’s holdings in First Community were worth $926,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhino Investment Partners Inc bought a new position in shares of First Community in the 4th quarter valued at about $6,012,000. Susquehanna International Group LLP increased its holdings in shares of First Community by 183.1% during the fourth quarter. Susquehanna International Group LLP now owns 91,733 shares of the bank’s stock worth $2,202,000 after buying an additional 59,335 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of First Community by 31.7% during the fourth quarter. Millennium Management LLC now owns 90,731 shares of the bank’s stock worth $2,178,000 after purchasing an additional 21,832 shares during the period. Two Sigma Investments LP raised its position in shares of First Community by 79.7% in the 4th quarter. Two Sigma Investments LP now owns 39,517 shares of the bank’s stock worth $948,000 after acquiring an additional 17,532 shares in the last quarter. Finally, Two Sigma Advisers LP increased its holdings in shares of First Community by 77.3% during the fourth quarter. Two Sigma Advisers LP now owns 37,400 shares of the bank’s stock valued at $898,000 after acquiring an additional 16,300 shares in the last quarter. Institutional investors and hedge funds own 61.25% of the company’s stock.

First Community Stock Up 0.9%

FCCO opened at $23.31 on Friday. First Community Co. has a twelve month low of $15.75 and a twelve month high of $27.96. The firm has a 50 day moving average price of $22.88 and a 200-day moving average price of $24.01. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $179.07 million, a price-to-earnings ratio of 12.88 and a beta of 0.37.

First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.04. First Community had a net margin of 13.49% and a return on equity of 10.14%. The company had revenue of $18.37 million for the quarter, compared to the consensus estimate of $17.39 million. Equities research analysts forecast that First Community Co. will post 2.28 earnings per share for the current year.

First Community Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 6th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, May 6th. This represents a $0.60 dividend on an annualized basis and a yield of 2.57%. First Community’s dividend payout ratio is currently 30.30%.

Analyst Upgrades and Downgrades

Separately, Hovde Group boosted their price target on shares of First Community from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th.

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.