20,327 Shares in First Community Corporation $FCCO Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC bought a new stake in First Community Corporation (NASDAQ:FCCO) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,327 shares of the bank’s stock, valued at approximately $594,000. Lazard Asset Management LLC owned approximately 0.22% of First Community as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in shares of First Community in the 3rd quarter valued at approximately $26,000. BNP Paribas Financial Markets lifted its position in shares of First Community by 324.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock worth $33,000 after purchasing an additional 1,031 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of First Community during the 2nd quarter worth $99,000. New York State Common Retirement Fund acquired a new position in shares of First Community during the second quarter worth $102,000. Finally, Raymond James Financial Inc. acquired a new position in shares of First Community during the second quarter worth $182,000. Hedge funds and other institutional investors own 61.25% of the company’s stock.

First Community Stock Down 0.6%

Shares of NASDAQ FCCO opened at $34.26 on Friday. The business has a 50-day moving average price of $32.51 and a 200 day moving average price of $30.65. The stock has a market cap of $321.98 million, a PE ratio of 12.78 and a beta of 0.34. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. First Community Corporation has a 52-week low of $24.47 and a 52-week high of $35.74.

First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, July 22nd. The bank reported $0.84 EPS for the quarter, topping the consensus estimate of $0.69 by $0.15. First Community had a return on equity of 14.03% and a net margin of 18.32%.The company had revenue of $25.14 million for the quarter, compared to analyst estimates of $24.69 million. Equities research analysts forecast that First Community Corporation will post 3.13 earnings per share for the current year.

First Community Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Tuesday, August 4th. This is a positive change from First Community’s previous quarterly dividend of $0.16. First Community’s dividend payout ratio is presently 25.37%.

Wall Street Analysts Forecast Growth

FCCO has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of First Community in a research note on Friday, July 17th. Wall Street Zen upgraded First Community from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, First Community presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Activity at First Community

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total value of $345,200.00. Following the completion of the sale, the executive vice president owned 18,468 shares in the company, valued at $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 is available through the SEC website. 8.84% of the stock is owned by insiders.

First Community Profile

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.