First Community Corporation (NASDAQ:FCCO) Announces Quarterly Dividend of $0.16

Key Points

• First Community Corporation declared a quarterly dividend of $0.16 per share (annualized $0.64) payable May 19 to holders of record May 5, yielding about 2.1%; the payout ratio is low (~23.5%) and the bank has raised its dividend for 4 consecutive years.
• The bank beat quarterly expectations with EPS of $0.72 versus $0.63 consensus, and the stock rose about 1.6% to $30.69; the company carries a market cap near $288 million and a trailing P/E of ~12.4.

First Community Corporation (NASDAQ:FCCO - Get Free Report) declared a quarterly dividend on Wednesday, April 22nd. Investors of record on Tuesday, May 5th will be paid a dividend of 0.16 per share by the bank on Tuesday, May 19th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, May 5th.

First Community has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 4 consecutive years. First Community has a payout ratio of 23.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Community to earn $3.26 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 19.6%.

First Community Stock Up 1.6%

NASDAQ:FCCO traded up $0.47 during mid-day trading on Wednesday, hitting $30.69. 83,576 shares of the company's stock were exchanged, compared to its average volume of 72,036. The company has a market cap of $287.99 million, a PE ratio of 12.43 and a beta of 0.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.79 and a quick ratio of 0.79. First Community has a one year low of $21.80 and a one year high of $31.51. The business has a fifty day moving average price of $29.44 and a 200 day moving average price of $29.02.

First Community (NASDAQ:FCCO - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The bank reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.63 by $0.09. First Community had a net margin of 16.85% and a return on equity of 12.71%. Equities analysts predict that First Community will post 2.99 EPS for the current year.

Institutional Investors Weigh In On First Community

A number of institutional investors have recently made changes to their positions in FCCO. Advisory Services Network LLC purchased a new position in First Community in the 3rd quarter worth approximately $26,000. CWM LLC purchased a new stake in First Community during the 3rd quarter valued at $31,000. BNP Paribas Financial Markets increased its holdings in shares of First Community by 324.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank's stock worth $33,000 after purchasing an additional 1,031 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of First Community by 116.2% in the 3rd quarter. Federated Hermes Inc. now owns 1,405 shares of the bank's stock worth $40,000 after purchasing an additional 755 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of First Community in the second quarter worth $99,000. Hedge funds and other institutional investors own 61.25% of the company's stock.

About First Community

First Community Financial Corp. NASDAQ: FCCO is the bank holding company for First Community Bank, a full-service commercial bank headquartered in Bluefield, West Virginia. Through its subsidiary, the company delivers a comprehensive range of financial services to individuals, small businesses and larger commercial clients. Its operations are focused on community banking, with an emphasis on personalized relationship management and local decision-making.

The company's core offerings include deposit products such as checking and savings accounts, certificates of deposit and money market accounts, as well as consumer and commercial lending solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.