Insider Selling: First Community (NASDAQ:FCCO) EVP Sells 10,000 Shares

Key Points

• First Community EVP Fred Joseph Deutsch sold 10,000 shares at an average price of $34.52, generating $345,200 and reducing his direct stake by 35.13% to 18,468 shares.
• First Community reported quarterly EPS of $0.84, beating analyst expectations of $0.69, while revenue reached $25.14 million versus the $24.69 million estimate.
• The company raised its quarterly dividend from $0.16 to $0.17 per share, implying an annualized dividend of $0.68 and a 1.9% yield; analysts maintain a “Moderate Buy” consensus with a $34 price target.

First Community Corporation (NASDAQ:FCCO - Get Free Report) EVP Fred Joseph Deutsch sold 10,000 shares of First Community stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total transaction of $345,200.00. Following the completion of the transaction, the executive vice president directly owned 18,468 shares of the company's stock, valued at approximately $637,515.36. This represents a 35.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Community Stock Performance

Shares of First Community stock traded up $1.14 during trading hours on Tuesday, reaching $35.07. The company's stock had a trading volume of 64,009 shares, compared to its average volume of 79,057. The company's 50 day simple moving average is $31.83 and its 200 day simple moving average is $30.38. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82. First Community Corporation has a one year low of $24.12 and a one year high of $35.26. The stock has a market cap of $329.66 million, a P/E ratio of 13.09 and a beta of 0.34.

First Community (NASDAQ:FCCO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.84 EPS for the quarter, beating the consensus estimate of $0.69 by $0.15. The business had revenue of $25.14 million during the quarter, compared to analyst estimates of $24.69 million. First Community had a net margin of 18.32% and a return on equity of 14.03%. As a group, analysts expect that First Community Corporation will post 3.06 EPS for the current fiscal year.

First Community Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th will be paid a $0.17 dividend. The ex-dividend date is Tuesday, August 4th. This is an increase from First Community's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%. First Community's payout ratio is presently 23.88%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of First Community in a research report on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $34.00.

Hedge Funds Weigh In On First Community

Several institutional investors have recently modified their holdings of the company. Millennium Management LLC lifted its position in First Community by 115.5% in the 1st 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 last quarter. Jones Financial Companies Lllp increased its stake in shares of First Community by 1,230.5% in the first quarter. Jones Financial Companies Lllp now owns 12,640 shares of the bank's stock valued at $285,000 after purchasing an additional 11,690 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of First Community by 199.8% during the first 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 last quarter. Empowered Funds LLC raised its holdings 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 buying an additional 721 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in shares of 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 buying an additional 19,978 shares during the period. 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.

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