Key Points
- Director Jonathan Been sold 14,800 First Community shares for approximately $503,940, reducing his direct ownership by 10.93% to 120,655 shares.
- First Community reported quarterly EPS of $0.84, exceeding analyst expectations of $0.69, while revenue of $25.14 million also topped estimates.
- The company increased its quarterly dividend from $0.16 to $0.17 per share, implying an annualized dividend of $0.68 and a 2.0% yield; analysts maintain a “Moderate Buy” consensus with a $37.50 average price target.
First Community Corporation (NASDAQ:FCCO - Get Free Report) Director Jonathan Been sold 14,800 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $34.05, for a total transaction of $503,940.00. Following the sale, the director directly owned 120,655 shares in the company, valued at $4,108,302.75. This trade represents a 10.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
First Community Stock Up 1.5%
FCCO opened at $34.56 on Friday. The company has a fifty day moving average of $33.52 and a two-hundred day moving average of $31.26. The stock has a market capitalization of $324.86 million, a price-to-earnings ratio of 12.90 and a beta of 0.33. First Community Corporation has a fifty-two week low of $25.92 and a fifty-two week high of $35.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82.
First Community (NASDAQ:FCCO - Get Free Report) last posted its earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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. On average, research analysts expect that First Community Corporation will post 3.13 earnings per share for the current 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 given a dividend of $0.17 per share. This is an increase from First Community's previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, August 4th. First Community's dividend payout ratio (DPR) is currently 25.37%.
Institutional Investors Weigh In On First Community
Several institutional investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its holdings in shares of First Community by 717.0% during the second quarter. California State Teachers Retirement System now owns 3,268 shares of the bank's stock valued at $100,000 after acquiring an additional 2,868 shares during the last quarter. Hsbc Holdings PLC lifted its position in First Community by 51.0% in the second quarter. Hsbc Holdings PLC now owns 28,590 shares of the bank's stock valued at $928,000 after buying an additional 9,652 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of First Community in the 2nd quarter valued at approximately $195,000. Pinnacle Holdings LLC purchased a new stake in First Community in the second quarter valued at approximately $1,506,000. Finally, Bank of New York Mellon Corp acquired a new position in First Community during the second quarter worth $796,000. 61.25% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
FCCO has been the subject of a number of recent analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of First Community in a research report on Friday, July 17th. Hovde Group lifted their price target on shares of First Community from $36.00 to $37.50 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Finally, Wall Street Zen lowered shares of First Community from a "buy" rating to a "hold" rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.50.
View Our Latest Stock Report on First Community
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.
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