Fred Joseph Deutsch Sells 10,000 Shares of First Community (NASDAQ:FCCO) Stock

Key Points

  • Executive sale: First Community EVP Fred Joseph Deutsch sold 10,000 shares at an average price of $34.52, generating $345,200 and reducing his ownership by 35.13% to 18,468 shares.
  • Strong quarterly results: First Community reported quarterly EPS of $0.84, beating estimates of $0.69, while revenue of $25.14 million also exceeded expectations.
  • Dividend increased: The company raised its quarterly dividend from $0.16 to $0.17 per share, equivalent to an annualized dividend of $0.68 and a 1.9% yield. Analysts maintain a “Moderate Buy” consensus with a $34 average 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 that occurred 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Community Price Performance

Shares of FCCO stock opened at $35.01 on Wednesday. The business's fifty day moving average is $31.94 and its 200 day moving average is $30.42. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. The stock has a market cap of $329.02 million, a price-to-earnings ratio of 13.06 and a beta of 0.34. First Community Corporation has a twelve month low of $24.12 and a twelve month high of $35.26.

First Community (NASDAQ:FCCO - Get Free Report) last announced its quarterly earnings data 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 return on equity of 14.03% and a net margin of 18.32%. Research analysts expect that First Community Corporation will post 3.06 EPS for the current fiscal year.

First Community Increases Dividend




The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This is an increase from First Community's previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.9%. First Community's payout ratio is presently 25.37%.

Hedge Funds Weigh In On First Community

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

Wall Street Analyst Weigh In

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

Check Out Our Latest Analysis on FCCO

About First Community

(Get Free Report)

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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