683 Capital Management LLC Buys New Stake in First Community Co. (NASDAQ:FCCO)

683 Capital Management LLC purchased a new position in shares of First Community Co. (NASDAQ:FCCO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,855 shares of the bank's stock, valued at approximately $333,000. 683 Capital Management LLC owned approximately 0.18% of First Community as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC acquired a new position in First Community during the 4th quarter worth about $39,000. Marshall Wace LLP purchased a new position in shares of First Community in the fourth quarter valued at approximately $206,000. Barclays PLC grew its holdings in shares of First Community by 214.0% in the third quarter. Barclays PLC now owns 10,046 shares of the bank's stock valued at $215,000 after purchasing an additional 6,847 shares in the last quarter. Wells Fargo & Company MN increased its stake in First Community by 419.8% during the 4th quarter. Wells Fargo & Company MN now owns 9,357 shares of the bank's stock worth $225,000 after buying an additional 7,557 shares during the period. Finally, Northern Trust Corp lifted its holdings in First Community by 2.8% during the 4th quarter. Northern Trust Corp now owns 14,798 shares of the bank's stock worth $355,000 after buying an additional 404 shares in the last quarter. 61.25% of the stock is currently owned by hedge funds and other institutional investors.

First Community Stock Performance

Shares of FCCO stock opened at $24.48 on Friday. First Community Co. has a 12 month low of $15.75 and a 12 month high of $27.96. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. The company has a market cap of $187.79 million, a P/E ratio of 13.52 and a beta of 0.31. The firm has a fifty day moving average price of $22.50 and a 200 day moving average price of $24.01.

First Community (NASDAQ:FCCO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.51 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.04. The business had revenue of $18.37 million for the quarter, compared to the consensus estimate of $17.39 million. First Community had a return on equity of 10.14% and a net margin of 13.49%. Sell-side analysts predict that First Community Co. will post 2.28 earnings per share for the current fiscal year.

First Community Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 6th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.45%. The ex-dividend date is Tuesday, May 6th. First Community's payout ratio is 30.30%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FCCO shares. Raymond James raised First Community from an "outperform" rating to a "strong-buy" rating and upped their price objective for the stock from $27.00 to $30.00 in a research report on Thursday, January 23rd. Hovde Group upped their price target on First Community from $28.00 to $29.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Janney Montgomery Scott upgraded First Community from a "neutral" rating to a "buy" rating and set a $30.00 price objective for the company in a research note on Tuesday, February 4th.

First Community Company Profile

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.

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