First Community Corporation (NASDAQ:FCCO) Stock to Pay Quarterly Dividend of $0.17

Key Points

• First Community declared a quarterly dividend of $0.17 per share, payable November 17 to shareholders of record on November 3. The dividend implies $0.68 in annual payments and a 2.1% yield, with a 25% payout ratio.
• The bank reported quarterly EPS of $0.86, exceeding analysts’ $0.80 estimate, while revenue reached $26.23 million versus the $26.01 million consensus.
• Analyst sentiment remains positive overall, with an average “Buy” rating and a $37.50 price target, despite one firm downgrading the stock to “Hold.”

First Community Corporation (NASDAQ:FCCO - Get Free Report) declared a quarterly dividend on Wednesday, October 21st. Stockholders of record on Tuesday, November 3rd will be given a dividend of $0.17 per share by the bank on Tuesday, November 17th. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, November 3rd.

First Community has raised its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 4 years. First Community has a payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Community to earn $3.30 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 20.6%.

First Community Stock Performance

Shares of First Community stock traded up $0.16 on Wednesday, hitting $32.77. The stock had a trading volume of 53,943 shares, compared to its average volume of 72,462. The stock has a market cap of $308.04 million, a price-to-earnings ratio of 12.23 and a beta of 0.33. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. First Community has a twelve month low of $26.42 and a twelve month high of $35.74. The business's 50 day moving average is $33.32 and its two-hundred day moving average is $32.19.

First Community (NASDAQ:FCCO - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The bank reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. The business had revenue of $26.23 million during the quarter, compared to analysts' expectations of $26.01 million. First Community had a return on equity of 13.23% and a net margin of 18.32%. Analysts forecast that First Community will post 3.14 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on FCCO shares. Wall Street Zen cut First Community from a "buy" rating to a "hold" rating in a research report on Sunday, October 11th. Weiss Ratings reissued a "buy (b)" rating on shares of First Community in a research report on Thursday, October 15th. Finally, Hovde Group boosted their target price on shares of First Community from $36.00 to $37.50 and gave the company an "outperform" rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, First Community presently has an average rating of "Buy" and an average price target of $37.50.

About First Community

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.

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