First Community (NASDAQ:FCCO) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Key Points

• First Community reported quarterly EPS of $0.86, exceeding the $0.80 consensus estimate by $0.06. The bank posted an 18.32% net margin and a 13.23% return on equity.
• Shares traded at $33.05, with a market capitalization of approximately $310.7 million and a price-to-earnings ratio of 12.37. The stock’s 52-week range is $26.42 to $35.74.
• Analysts maintain a generally positive outlook, with an average “Buy” rating and a consensus price target of $37.50, although insiders sold 24,800 shares worth about $849,140 over the past 90 days.

First Community (NASDAQ:FCCO - Get Free Report) released its earnings results on Wednesday. The bank reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06, Zacks reports. First Community had a net margin of 18.32% and a return on equity of 13.23%.

First Community Price Performance

NASDAQ FCCO traded up $0.44 during trading on Wednesday, reaching $33.05. 8,006 shares of the company traded hands, compared to its average volume of 72,216. First Community has a 1-year low of $26.42 and a 1-year high of $35.74. The company has a market cap of $310.69 million, a price-to-earnings ratio of 12.37 and a beta of 0.33. The stock's 50 day moving average price is $33.32 and its two-hundred day moving average price is $32.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82.

Wall Street Analysts Forecast Growth

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

Insider Transactions at First Community

In related news, Director Jonathan W. Been sold 14,800 shares of the firm's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $34.05, for a total transaction of $503,940.00. Following the completion of the transaction, the director owned 120,655 shares in the company, valued at $4,108,302.75. This trade represents a 10.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fred Joseph Deutsch sold 10,000 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total value of $345,200.00. Following the completion of the sale, the executive vice president directly owned 18,468 shares in the company, valued at approximately $637,515.36. This represents a 35.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 24,800 shares of company stock valued at $849,140. Corporate insiders own 8.84% of the company's stock.

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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