First Community (NASDAQ:FCCO) Stock Price Crosses Below 50-Day Moving Average - Should You Sell?

Key Points

• FCCO fell below its 50-day moving average: Shares traded at $32.95, below the $33.10 average, though still above the 200-day average of $31.46.
• Analyst sentiment remains broadly positive: MarketBeat reports a consensus “Buy” rating and a $37.50 target price; one analyst recently downgraded the stock to “Hold.”
• First Community beat quarterly earnings estimates, reporting EPS of $0.86 versus $0.80 expected, and declared a $0.17 quarterly dividend, equivalent to a 2.1% yield.

First Community Corporation (NASDAQ:FCCO - Get Free Report)'s share price crossed below its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $33.10 and traded as low as $32.75. First Community shares last traded at $32.95, with a volume of 33,151 shares.

Analyst Ratings Changes

A number of research analysts have recently weighed in on FCCO shares. Hovde Group raised their target price on First Community from $36.00 to $37.50 and gave the company an "outperform" rating in a report on Thursday, August 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of First Community in a report on Thursday, October 15th. Finally, Wall Street Zen lowered First Community from a "buy" rating to a "hold" rating in a research report on Sunday, October 11th. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $37.50.

First Community Stock Down 2.4%

The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. The stock's 50-day simple moving average is $33.10 and its 200-day simple moving average is $31.46. The firm has a market capitalization of $309.73 million, a P/E ratio of 11.52 and a beta of 0.33.

First Community (NASDAQ:FCCO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The bank reported $0.86 EPS for the quarter, beating the consensus estimate of $0.80 by $0.06. First Community had a net margin of 19.55% and a return on equity of 13.73%. The firm had revenue of $26.23 million during the quarter, compared to analyst estimates of $26.01 million. As a group, research analysts predict that First Community Corporation will post 3.16 earnings per share for the current fiscal year.

First Community Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 17th. Investors of record on Tuesday, November 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, November 3rd. First Community's dividend payout ratio (DPR) is presently 23.78%.

Insider Buying and Selling

In other First Community news, Director Jonathan W. Been sold 14,800 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $34.05, for a total value of $503,940.00. Following the completion of the transaction, the director owned 120,655 shares in the company, valued at $4,108,302.75. This represents a 10.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jane S. Sosebee acquired 1,250 shares of First Community stock in a transaction on Tuesday, August 25th. The stock was acquired at an average price of $33.95 per share, with a total value of $42,437.50. Following the purchase, the director directly owned 10,855 shares in the company, valued at approximately $368,527.25. This trade represents a 13.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 8.84% of the company's stock.

Hedge Funds Weigh In On First Community

A number of hedge funds and other institutional investors have recently made changes to their positions in FCCO. Burkett Financial Services LLC raised its position in First Community by 154.8% in the third quarter. Burkett Financial Services LLC now owns 762 shares of the bank's stock worth $25,000 after acquiring an additional 463 shares during the period. Public Employees Retirement System of Ohio purchased a new position in First Community in the second quarter valued at about $195,000. NewEdge Advisors LLC boosted its stake in First Community by 24.7% in the first quarter. NewEdge Advisors LLC now owns 10,607 shares of the bank's stock valued at $310,000 after acquiring an additional 2,099 shares during the last quarter. Hsbc Holdings PLC purchased a new position in First Community in the fourth quarter valued at about $524,000. Finally, Lazard Asset Management LLC bought a new position in shares of First Community during the 1st quarter valued at approximately $594,000. 61.25% of the stock is owned by hedge funds and other institutional investors.

About First Community

First Community Corporation is the bank holding company for First Community Bank, a community-focused financial institution headquartered in Lexington, South Carolina. The company serves individuals, families, businesses and nonprofit organizations primarily in the Midlands and Upstate regions of South Carolina.

Through First Community Bank, the company offers a range of banking products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, business loans and lines of credit.

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