Millennium Management LLC Raises Position in First Community Co. (NASDAQ:FCCO)

Millennium Management LLC increased its position in shares of First Community Co. (NASDAQ:FCCO - Free Report) by 31.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,731 shares of the bank's stock after acquiring an additional 21,832 shares during the quarter. Millennium Management LLC owned approximately 1.19% of First Community worth $2,178,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of FCCO. Global Retirement Partners LLC purchased a new position in First Community during the fourth quarter worth about $39,000. Cubist Systematic Strategies LLC raised its position in shares of 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 buying an additional 2,475 shares during the period. Marshall Wace LLP purchased a new stake in shares of First Community during the 4th quarter valued at approximately $206,000. Wells Fargo & Company MN lifted its holdings in First Community by 419.8% in the fourth quarter. Wells Fargo & Company MN now owns 9,357 shares of the bank's stock valued at $225,000 after acquiring an additional 7,557 shares during the last quarter. Finally, 683 Capital Management LLC purchased a new position in First Community in the fourth quarter worth approximately $333,000. Institutional investors and hedge funds own 61.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Janney Montgomery Scott upgraded First Community from a "neutral" rating to a "buy" rating and set a $30.00 price target for the company in a report on Tuesday, February 4th. Hovde Group upped their target price on shares of First Community from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th.

First Community Price Performance

NASDAQ FCCO remained flat at $23.42 on Tuesday. The company's stock had a trading volume of 20,627 shares, compared to its average volume of 35,470. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.45. The company's 50-day moving average price is $22.82 and its two-hundred day moving average price is $24.04. First Community Co. has a 52 week low of $15.75 and a 52 week high of $27.96. The company has a market capitalization of $179.91 million, a price-to-earnings ratio of 12.94 and a beta of 0.36.

First Community (NASDAQ:FCCO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.04. First Community had a return on equity of 10.14% and a net margin of 13.49%. The business had revenue of $18.37 million during the quarter, compared to analysts' expectations of $17.39 million. Sell-side analysts forecast that First Community Co. will post 2.28 earnings per share for the current fiscal year.

First Community Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Tuesday, May 6th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend was Tuesday, May 6th. First Community's dividend payout ratio is currently 30.30%.

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.