First Community (NASDAQ:FCCO) Stock Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• First Community Corporation's share price surpassed its 200-day moving average, trading at $24.95, indicating a potential upward trend in investor confidence.
• Hovde Group raised its price target for First Community from $28.00 to $29.00 and rated the stock as "outperform," signaling positive market expectations.
• The company announced an increase in its quarterly dividend to $0.16 per share, reflecting strong financial performance with a 15.87% net margin and an annualized dividend yield of 2.6%.

First Community Corporation (NASDAQ:FCCO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $23.95 and traded as high as $25.06. First Community shares last traded at $24.95, with a volume of 14,424 shares changing hands.

Analysts Set New Price Targets

Separately, Hovde Group boosted their target price 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.

First Community Price Performance

The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $193.36 million, a price-to-earnings ratio of 11.29 and a beta of 0.41. The stock's 50 day moving average price is $24.34 and its two-hundred day moving average price is $23.92.

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 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 for the quarter, compared to the consensus estimate of $18.56 million. Analysts anticipate that First Community Corporation will post 2.28 EPS for the current fiscal year.

First Community Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This is a positive change from First Community's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 2.5%. First Community's dividend payout ratio (DPR) is currently 28.70%.

Hedge Funds Weigh In On First Community

Several hedge funds have recently bought and sold shares of FCCO. Police & Firemen s Retirement System of New Jersey acquired a new position in First Community during the second quarter worth $41,000. Blue Trust Inc. acquired a new position in First Community during the second quarter worth $42,000. Signaturefd LLC increased its position in First Community by 846.7% during 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 during the last quarter. Cubist Systematic Strategies LLC increased its position in First Community by 63.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 6,369 shares of the bank's stock worth $153,000 after buying an additional 2,475 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in First Community during the fourth quarter worth $206,000. 61.25% of the stock is owned by institutional investors and hedge funds.

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.