First Community (NASDAQ:FCCO) Posts Earnings Results, Meets Expectations

First Community (NASDAQ:FCCO - Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $0.34 earnings per share for the quarter, meeting the consensus estimate of $0.34, Yahoo Finance reports. First Community had a return on equity of 9.43% and a net margin of 14.25%. The firm had revenue of $24.44 million for the quarter, compared to analysts' expectations of $14.83 million.

First Community Stock Performance

Shares of NASDAQ FCCO remained flat at $15.95 during midday trading on Thursday. The stock had a trading volume of 18,249 shares, compared to its average volume of 21,747. First Community has a 52 week low of $15.40 and a 52 week high of $22.00. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $121.70 million, a P/E ratio of 10.39 and a beta of 0.43. The firm has a 50-day moving average price of $16.85 and a two-hundred day moving average price of $17.93.

First Community Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, April 29th. First Community's payout ratio is 36.36%.

Institutional Trading of First Community

Hedge funds and other institutional investors have recently bought and sold shares of the company. UBS Group AG lifted its position in First Community by 314.7% in the third quarter. UBS Group AG now owns 1,833 shares of the bank's stock valued at $32,000 after purchasing an additional 1,391 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its position in First Community by 4,253.3% in the second quarter. BNP Paribas Arbitrage SNC now owns 1,959 shares of the bank's stock valued at $34,000 after purchasing an additional 1,914 shares during the last quarter. Citigroup Inc. bought a new position in shares of First Community during the second quarter valued at approximately $38,000. California State Teachers Retirement System bought a new position in shares of First Community during the second quarter valued at approximately $43,000. Finally, MetLife Investment Management LLC bought a new position in shares of First Community during the second quarter valued at approximately $70,000. Hedge funds and other institutional investors own 61.25% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded First Community from a "sell" rating to a "hold" rating in a research report on Thursday, January 25th. Raymond James raised First Community from a "market perform" rating to an "outperform" rating and set a $21.00 price objective for the company in a report on Thursday, January 25th.

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.