American Century Companies Inc. Buys New Position in First Community Corporation $FCCO

Key Points

• American Century Companies Inc. has acquired a new stake in First Community Corporation by purchasing 20,199 shares valued at approximately $456,000, representing about 0.26% of the company.
• First Community Corporation recently reported earnings per share (EPS) of $0.67, exceeding analysts' expectations of $0.58, with a net margin of 15.87% and revenue of $19.53 million for the quarter.
• The company increased its quarterly dividend from $0.15 to $0.16, marking an annualized dividend yield of 2.3% with a payout ratio of 28.70%.

American Century Companies Inc. acquired a new position in shares of First Community Corporation (NASDAQ:FCCO - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 20,199 shares of the bank's stock, valued at approximately $456,000. American Century Companies Inc. owned approximately 0.26% of First Community as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of First Community by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 112,430 shares of the bank's stock worth $2,698,000 after acquiring an additional 7,031 shares in the last quarter. Independent Advisor Alliance boosted its position in shares of First Community by 4.1% during the 1st quarter. Independent Advisor Alliance now owns 102,823 shares of the bank's stock worth $2,320,000 after acquiring an additional 4,020 shares in the last quarter. Susquehanna International Group LLP boosted its position in shares of First Community by 183.1% during the 4th quarter. Susquehanna International Group LLP now owns 91,733 shares of the bank's stock worth $2,202,000 after acquiring an additional 59,335 shares in the last quarter. Millennium Management LLC boosted its position in shares of First Community by 31.7% during the 4th quarter. Millennium Management LLC now owns 90,731 shares of the bank's stock worth $2,178,000 after acquiring an additional 21,832 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of First Community by 12.0% during the 1st quarter. Russell Investments Group Ltd. now owns 63,828 shares of the bank's stock worth $1,440,000 after acquiring an additional 6,818 shares in the last quarter. 61.25% of the stock is owned by institutional investors and hedge funds.

First Community Stock Performance

Shares of NASDAQ FCCO traded up $0.22 during trading hours on Thursday, reaching $28.12. The stock had a trading volume of 17,198 shares, compared to its average volume of 20,052. The firm has a market cap of $216.13 million, a price-to-earnings ratio of 12.61 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 fifty-two week low of $19.46 and a fifty-two week high of $28.77. The firm has a 50-day moving average of $25.95 and a 200-day moving average of $24.04.

First Community (NASDAQ:FCCO - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The bank reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.09. The firm had revenue of $19.53 million during the quarter, compared to analysts' expectations of $18.56 million. First Community had a return on equity of 11.65% and a net margin of 15.87%. Equities research 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. Investors of record on Tuesday, August 5th were given a $0.16 dividend. This is a boost from First Community's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.3%. First Community's payout ratio is currently 28.70%.

Insider Activity

In related news, Director Roderick M. Todd, Jr. sold 1,679 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $332,248. This represents a 12.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.92% of the stock is currently owned by company insiders.

About First Community

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.