First Community (NASDAQ:FCCO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Community (NASDAQ:FCCO) from a hold rating to a buy rating in a report published on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently issued reports on FCCO. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a report on Friday, July 17th. Hovde Group upped their target price on First Community from $36.00 to $37.50 and gave the company an “outperform” rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $37.50.

First Community Trading Down 0.3%

Shares of First Community stock opened at $32.58 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $306.25 million, a P/E ratio of 12.16 and a beta of 0.33. First Community has a 1 year low of $25.92 and a 1 year high of $35.74. The company’s fifty day moving average is $33.74 and its two-hundred day moving average is $31.89.

First Community (NASDAQ:FCCO) last released its earnings results on Wednesday, July 22nd. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.69 by $0.15. The company had revenue of $25.14 million during the quarter, compared to analysts’ expectations of $24.69 million. First Community had a net margin of 18.32% and a return on equity of 13.23%. Analysts forecast that First Community will post 3.14 earnings per share for the current year.

First Community Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were given a $0.17 dividend. This is a boost from First Community’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Tuesday, August 4th. First Community’s dividend payout ratio (DPR) is currently 25.37%.

Insider Transactions at First Community

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of First Community stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total transaction of $345,200.00. Following the completion of the transaction, the executive vice president directly owned 18,468 shares in the company, valued at $637,515.36. The trade was a 35.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jane Sosebee acquired 1,250 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The shares were bought at an average price of $33.95 per share, with a total value of $42,437.50. Following the completion of the transaction, the director directly owned 10,855 shares in the company, valued at approximately $368,527.25. The trade was a 13.01% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 8.84% of the company’s stock.

Hedge Funds Weigh In On First Community

A number of institutional investors have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC acquired a new stake in shares of First Community during the first quarter valued at $8,430,000. Maltese Capital Management LLC increased its position in First Community by 5.3% during the 4th quarter. Maltese Capital Management LLC now owns 252,500 shares of the bank’s stock worth $7,487,000 after purchasing an additional 12,769 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in First Community by 11.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 205,992 shares of the bank’s stock valued at $6,021,000 after purchasing an additional 20,970 shares during the last quarter. Renaissance Technologies LLC raised its stake in First Community by 31.4% in the 1st quarter. Renaissance Technologies LLC now owns 125,328 shares of the bank’s stock valued at $3,663,000 after purchasing an additional 29,967 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in First Community by 18.2% in the 2nd quarter. Squarepoint Ops LLC now owns 72,464 shares of the bank’s stock valued at $2,368,000 after purchasing an additional 11,141 shares in the last quarter. 61.25% of the stock is owned by institutional investors and hedge funds.

First Community Company Profile

First Community Corporation is a bank holding company headquartered in Lexington, South Carolina. Through its principal subsidiary, First Community Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

First Community Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing and other credit products. Its services also include online and mobile banking, treasury management, mortgage banking, wealth management and investment services.

Founded in 1995, First Community serves communities across South Carolina through a network of banking offices and digital channels.