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

First Community Corporation (NASDAQ:FCCO - Get Free Report) declared a quarterly dividend on Tuesday, July 22nd, Wall Street Journal reports. Shareholders of record on Tuesday, August 5th will be given a dividend of 0.16 per share by the bank on Tuesday, August 19th. This represents a $0.64 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend is Tuesday, August 5th. This is a 6.7% increase from First Community's previous quarterly dividend of $0.15.

First Community has a payout ratio of 22.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Community to earn $2.83 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 21.2%.

First Community Stock Performance

First Community stock traded up $0.07 on Monday, reaching $25.29. 33,216 shares of the stock were exchanged, compared to its average volume of 33,191. The firm has a fifty day moving average price of $24.07 and a two-hundred day moving average price of $23.86. The stock has a market cap of $194.23 million, a PE ratio of 11.34 and a beta of 0.37. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. First Community has a twelve month low of $19.46 and a twelve month high of $27.96.

First Community (NASDAQ:FCCO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.09. First Community had a net margin of 15.87% and a return on equity of 11.84%. The business had revenue of $19.53 million during the quarter, compared to analyst estimates of $18.56 million. Sell-side analysts anticipate that First Community will post 2.28 EPS for the current year.

Analyst Ratings Changes

Separately, Hovde Group raised their price objective on shares of First Community from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th.

Hedge Funds Weigh In On First Community

A number of institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its stake in shares of First Community by 7.7% during the first 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 last quarter. Jones Financial Companies Lllp boosted its stake in 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 acquiring an additional 11,690 shares in the last quarter. Jane Street Group LLC boosted its stake in First Community by 63.7% during the first quarter. Jane Street Group LLC now owns 51,323 shares of the bank's stock worth $1,158,000 after acquiring an additional 19,978 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in First Community by 199.8% during the first quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank's stock worth $2,051,000 after acquiring an additional 60,596 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in First Community by 115.5% during the first quarter. Millennium Management LLC now owns 195,527 shares of the bank's stock worth $4,411,000 after acquiring an additional 104,796 shares in the last quarter. 61.25% of the stock is currently owned by institutional investors and hedge funds.

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.