First Community Corporation $FCCO Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC increased its stake in First Community Corporation (FCCO) by 36.7% in the first quarter, owning approximately $2.95 million worth of shares.
• First Community Corporation has recently increased its quarterly dividend to $0.16 per share, a rise from the previous $0.15, representing an annual yield of 2.3%.
• The bank reported earnings of $0.67 EPS for the last quarter, exceeding analyst expectations and demonstrating a return on equity of 11.65%.

Acadian Asset Management LLC boosted its stake in shares of First Community Corporation (NASDAQ:FCCO - Free Report) by 36.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130,870 shares of the bank's stock after purchasing an additional 35,140 shares during the period. Acadian Asset Management LLC owned approximately 1.70% of First Community worth $2,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in First Community by 846.7% in the first quarter. Signaturefd LLC now owns 2,168 shares of the bank's stock valued at $49,000 after buying an additional 1,939 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in First Community by 63.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 6,369 shares of the bank's stock valued at $153,000 after acquiring an additional 2,475 shares during the period. Empowered Funds LLC lifted its stake in First Community by 7.7% during the 1st quarter. Empowered Funds LLC now owns 10,080 shares of the bank's stock valued at $227,000 after acquiring an additional 721 shares during the period. Squarepoint Ops LLC purchased a new position in shares of First Community during the fourth quarter worth $284,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of First Community by 1,230.5% during the first quarter. Jones Financial Companies Lllp now owns 12,640 shares of the bank's stock worth $285,000 after purchasing an additional 11,690 shares during the last quarter. Hedge funds and other institutional investors own 61.25% of the company's stock.

Insiders Place Their Bets

In other news, Director Roderick M. Todd, Jr. sold 1,679 shares of the business's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $28.00, for a total value of $47,012.00. Following the completion of the sale, the director directly owned 11,866 shares in the company, valued at $332,248. The trade was a 12.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.92% of the company's stock.

First Community Stock Performance

FCCO traded up $0.23 during midday trading on Friday, hitting $29.14. 122,410 shares of the company were exchanged, compared to its average volume of 23,274. The company's 50 day simple moving average is $26.32 and its 200 day simple moving average is $24.20. The firm has a market capitalization of $224.09 million, a price-to-earnings ratio of 13.07 and a beta of 0.46. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.10. First Community Corporation has a 1-year low of $19.46 and a 1-year high of $29.44.

First Community (NASDAQ:FCCO - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.09. First Community had a return on equity of 11.65% and a net margin of 15.87%.The firm had revenue of $19.53 million for the quarter, compared to the consensus estimate of $18.56 million. As a group, sell-side analysts predict that First Community Corporation will post 2.28 earnings per share for the current year.

First Community Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend was Tuesday, August 5th. This is an increase from First Community's previous quarterly dividend of $0.15. First Community's dividend payout ratio is currently 28.70%.

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.