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

Key Points

• First Community Corporation's stock price has crossed above its 200-day moving average, recently trading at $24.95 with a peak at $25.55.
• The company's quarterly earnings showed an EPS of $0.67, surpassing estimates, with revenue reaching $19.53 million.
• First Community has declared an increased quarterly dividend of $0.16 per share, representing a dividend yield of 2.57%, effective for stockholders on record as of August 5th.

First Community Corporation (NASDAQ:FCCO - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.89 and traded as high as $25.55. First Community shares last traded at $24.95, with a volume of 46,597 shares.

Wall Street Analysts Forecast Growth

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

First Community Trading Down 1.0%

The firm has a market cap of $188.31 million, a PE ratio of 11.00 and a beta of 0.41. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.10. The business has a fifty day moving average price of $24.19 and a 200 day moving average price of $23.93.

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

First Community Increases Dividend

The business also recently disclosed 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. This represents a $0.64 dividend on an annualized basis and a yield of 2.6%. 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. First Community's payout ratio is 26.91%.

Institutional Trading of First Community

A number of hedge funds have recently added to or reduced their stakes in FCCO. Rhino Investment Partners Inc acquired a new stake in First Community during the 4th quarter worth approximately $6,012,000. Millennium Management LLC lifted its position in First Community by 115.5% during the 1st 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 during the period. Goldman Sachs Group Inc. lifted its holdings in shares of First Community by 199.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank's stock valued at $2,051,000 after buying an additional 60,596 shares during the period. Susquehanna International Group LLP lifted its holdings in shares of First Community by 183.1% in the 4th quarter. Susquehanna International Group LLP now owns 91,733 shares of the bank's stock valued at $2,202,000 after buying an additional 59,335 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of First Community by 36.7% in the 1st quarter. Acadian Asset Management LLC now owns 130,870 shares of the bank's stock valued at $2,948,000 after buying an additional 35,140 shares during the period. 61.25% of the stock is 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.