Insider Buying: First Community (NASDAQ:FCCO) Director Acquires 1,250 Shares of Stock

Key Points

  • Insider buying: First Community Director Jane Sosebee purchased 1,250 shares at an average price of $33.95, investing $42,437.50 and increasing her ownership by 13.01%.
  • Strong quarterly results: First Community reported earnings of $0.84 per share, beating estimates by $0.15, while revenue of $25.14 million also exceeded expectations.
  • Positive investor outlook: The company raised its quarterly dividend to $0.17 per share, and analysts maintain a “Moderate Buy” consensus with a $37.50 target price.

First Community Corporation (NASDAQ:FCCO - Get Free Report) Director Jane Sosebee purchased 1,250 shares of First Community stock in a transaction on Tuesday, August 25th. The shares were purchased at an average cost of $33.95 per share, with a total value of $42,437.50. Following the transaction, the director owned 10,855 shares in the company, valued at approximately $368,527.25. The trade was a 13.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

First Community Price Performance

Shares of FCCO opened at $33.31 on Thursday. 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 twelve month low of $25.92 and a twelve month high of $35.74. The stock has a market capitalization of $313.11 million, a P/E ratio of 12.43 and a beta of 0.34. The company has a 50 day moving average of $33.31 and a 200-day moving average of $31.10.

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, topping analysts' consensus estimates of $0.69 by $0.15. First Community had a net margin of 18.32% and a return on equity of 13.23%. The business had revenue of $25.14 million for the quarter, compared to analyst estimates of $24.69 million. As a group, equities research analysts forecast that First Community Corporation will post 3.13 EPS for the current fiscal year.

First Community Increases Dividend




The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, August 4th. This is an increase from First Community's previous quarterly dividend of $0.16. First Community's dividend payout ratio (DPR) is presently 25.37%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on FCCO. Hovde Group raised their price objective on First Community from $36.00 to $37.50 and gave the company an "outperform" rating in a report on Thursday, August 13th. Wall Street Zen cut First Community from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of First Community in a research note on Friday, July 17th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, First Community presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.50.

Get Our Latest Stock Report on FCCO

Institutional Investors Weigh In On First Community

A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Wealth Advisors LLC acquired a new stake in shares of First Community during the first quarter worth $8,430,000. Millennium Management LLC increased its stake in First Community by 115.5% during the 1st quarter. Millennium Management LLC now owns 195,527 shares of the bank's stock worth $4,411,000 after acquiring an additional 104,796 shares during the period. Geode Capital Management LLC increased its stake in First Community by 103.4% during the 2nd quarter. Geode Capital Management LLC now owns 174,732 shares of the bank's stock worth $4,260,000 after acquiring an additional 88,807 shares during the period. Goldman Sachs Group Inc. raised its holdings in First Community by 199.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank's stock valued at $2,051,000 after acquiring an additional 60,596 shares in the last quarter. Finally, Pinnacle Holdings LLC acquired a new position in First Community in the 2nd quarter valued at $1,506,000. Institutional investors own 61.25% of the company's stock.

First Community Company Profile

(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.

Further Reading

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