First Community (NASDAQ:FCCO) Issues Earnings Results

First Community (NASDAQ:FCCO - Get Free Report) posted its quarterly earnings results on Wednesday. The bank reported $0.67 EPS for the quarter, beating the consensus estimate of $0.58 by $0.09, Zacks reports. The business had revenue of $19.53 million during the quarter, compared to analyst estimates of $18.56 million. First Community had a net margin of 15.87% and a return on equity of 11.84%.

First Community Stock Performance

NASDAQ FCCO traded down $0.01 during mid-day trading on Friday, reaching $25.22. 22,731 shares of the stock were exchanged, compared to its average volume of 78,847. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.78 and a current ratio of 0.78. The business's 50 day moving average is $24.07 and its 200-day moving average is $23.86. The company has a market capitalization of $193.74 million, a P/E ratio of 11.31 and a beta of 0.37. First Community has a 1 year low of $19.46 and a 1 year high of $27.96.

First Community Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th will be issued a $0.16 dividend. This is an increase from First Community's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend is Tuesday, August 5th. First Community's dividend payout ratio is 28.70%.

Analyst Ratings Changes

Separately, Hovde Group increased their price target 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.

Hedge Funds Weigh In On First Community

Large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in shares of First Community by 7.7% in the first quarter. Empowered Funds LLC now owns 10,080 shares of the bank's stock valued at $227,000 after buying 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 buying an additional 11,690 shares during the period. Jane Street Group LLC boosted its stake in shares of First Community by 63.7% in the first quarter. Jane Street Group LLC now owns 51,323 shares of the bank's stock valued at $1,158,000 after purchasing an additional 19,978 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of First Community by 199.8% in the first quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank's stock valued at $2,051,000 after purchasing an additional 60,596 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of First Community by 115.5% in the first quarter. Millennium Management LLC now owns 195,527 shares of the bank's stock valued at $4,411,000 after purchasing an additional 104,796 shares during the period. 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.