DA Davidson initiated coverage on shares of First Community (NASDAQ:FCCO) in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $20.50 target price on the bank’s stock. DA Davidson also issued estimates for First Community’s Q3 2019 earnings at $0.34 EPS, FY2019 earnings at $1.35 EPS and FY2020 earnings at $1.34 EPS.
FCCO has been the topic of several other research reports. ValuEngine upgraded shares of First Community from a sell rating to a hold rating in a research report on Thursday, August 15th. Zacks Investment Research upgraded shares of First Community from a sell rating to a hold rating in a research report on Friday, August 2nd.
Shares of First Community stock opened at $18.05 on Tuesday. The stock has a market cap of $133.88 million, a PE ratio of 12.45 and a beta of 0.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.79 and a quick ratio of 0.78. The firm has a fifty day moving average price of $19.15 and a 200 day moving average price of $19.05. First Community has a 1 year low of $17.08 and a 1 year high of $26.10.
First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, July 17th. The bank reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The company had revenue of $12.30 million for the quarter, compared to analyst estimates of $12.04 million. First Community had a net margin of 20.81% and a return on equity of 9.59%. As a group, equities analysts expect that First Community will post 1.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, July 29th were given a dividend of $0.11 per share. The ex-dividend date was Friday, July 26th. This represents a $0.44 annualized dividend and a yield of 2.44%. First Community’s dividend payout ratio is presently 30.34%.
In related news, VP David K. Proctor sold 3,888 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $19.05, for a total transaction of $74,066.40. Following the sale, the vice president now owns 21,349 shares in the company, valued at $406,698.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 5.66% of the stock is currently owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Maltese Capital Management LLC lifted its holdings in shares of First Community by 743.9% during the 2nd quarter. Maltese Capital Management LLC now owns 147,700 shares of the bank’s stock worth $2,734,000 after acquiring an additional 130,198 shares during the period. Morgan Stanley lifted its holdings in shares of First Community by 251.1% during the 2nd quarter. Morgan Stanley now owns 34,580 shares of the bank’s stock worth $641,000 after acquiring an additional 24,730 shares during the period. Paloma Partners Management Co purchased a new position in shares of First Community during the 2nd quarter worth about $635,000. Weiss Asset Management LP purchased a new position in shares of First Community during the 2nd quarter worth about $254,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of First Community by 122.0% during the 2nd quarter. Renaissance Technologies LLC now owns 107,900 shares of the bank’s stock worth $1,997,000 after acquiring an additional 59,300 shares during the period. Institutional investors own 48.11% of the company’s stock.
About First Community
First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals. The company operates through four segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate.
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