Cubist Systematic Strategies LLC Grows Holdings in First Community Corporation $FCCO

Key Points

• Cubist Systematic Strategies LLC increased its stake in First Community Corporation by 206.5% in the first quarter, bringing its ownership to $440,000 or about 0.25% of the company.
• First Community recently reported $0.67 earnings per share (EPS) for the quarter, exceeding estimates of $0.58, with a net margin of 15.87% and revenue of $19.53 million.
• The company has announced an increase in its quarterly dividend to $0.16, resulting in a 2.3% dividend yield with a payout ratio of 28.70%.

Cubist Systematic Strategies LLC grew its stake in First Community Corporation (NASDAQ:FCCO - Free Report) by 206.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,524 shares of the bank's stock after purchasing an additional 13,155 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.25% of First Community worth $440,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FCCO. Northern Trust Corp lifted its stake in shares of First Community by 2.8% in the fourth 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. Signaturefd LLC lifted its stake in shares of First Community by 846.7% in the first quarter. Signaturefd LLC now owns 2,168 shares of the bank's stock worth $49,000 after buying an additional 1,939 shares in the last quarter. Independent Advisor Alliance lifted its stake in shares of First Community by 4.1% in the first quarter. Independent Advisor Alliance now owns 102,823 shares of the bank's stock worth $2,320,000 after buying an additional 4,020 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of First Community by 92.1% in the fourth quarter. Bank of America Corp DE now owns 14,098 shares of the bank's stock worth $338,000 after buying an additional 6,759 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of First Community by 12.0% in the first quarter. Russell Investments Group Ltd. now owns 63,828 shares of the bank's stock worth $1,440,000 after buying an additional 6,818 shares in the last quarter. Institutional investors and hedge funds own 61.25% of the company's stock.

Insider Buying and Selling

In other First Community news, Director Roderick M. Todd, Jr. sold 1,679 shares of First Community stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $28.00, for a total transaction of $47,012.00. Following the transaction, the director directly owned 11,866 shares of the company's stock, valued at $332,248. The trade was a 12.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.92% of the stock is owned by company insiders.

First Community Price Performance

Shares of NASDAQ:FCCO traded up $0.08 during midday trading on Tuesday, hitting $28.18. The company's stock had a trading volume of 60,404 shares, compared to its average volume of 20,905. The business's 50 day simple moving average is $26.10 and its 200 day simple moving average is $24.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.77 and a current ratio of 0.78. The company has a market cap of $216.70 million, a P/E ratio of 12.64 and a beta of 0.46. First Community Corporation has a 12-month low of $19.46 and a 12-month high of $28.77.

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

First Community Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.3%. 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. First Community's payout ratio is presently 28.70%.

First Community 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.