First Community Co. (NASDAQ:FCCO) shares reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $19.00 and last traded at $19.00, with a volume of 82,638 shares trading hands. The stock had previously closed at $18.05.
The company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.01. First Community had a net margin of 17.07% and a return on equity of 7.89%.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Monday, January 30th will be paid a $0.09 dividend. This is a boost from First Community’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, January 26th. First Community’s payout ratio is presently 32.99%.
Several research firms have commented on FCCO. Hovde Group raised shares of First Community from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $20.00 to $21.00 in a research note on Thursday. Zacks Investment Research upgraded shares of First Community from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, December 26th.
In related news, Director George H. Fann, Jr. purchased 2,205 shares of the firm’s stock in a transaction on Wednesday, October 26th. The shares were bought at an average price of $14.90 per share, for a total transaction of $32,854.50. Following the acquisition, the director now directly owns 81,193 shares in the company, valued at $1,209,775.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.60% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. ELCO Management Co. LLC bought a new position in shares of First Community during the third quarter worth $843,000. Vanguard Group Inc. acquired a new position in First Community during the second quarter valued at $1,140,000. RMB Capital Management LLC raised its position in First Community by 75.4% in the third quarter. RMB Capital Management LLC now owns 355,795 shares of the company’s stock valued at $5,604,000 after buying an additional 152,925 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in First Community during the third quarter valued at $5,766,000. Institutional investors own 43.88% of the company’s stock.
The firm’s 50-day moving average is $18.11 and its 200-day moving average is $15.85. The firm has a market cap of $126.53 million, a price-to-earnings ratio of 19.8701 and a beta of 0.85.
About First Community
First Community Corporation is a bank holding company for First Community Bank (the Bank). The Bank offers commercial and retail banking services to small-to-medium sized businesses, professional concerns and individuals, primarily in Richland, Lexington, Kershaw and Newberry Counties of South Carolina and the surrounding areas.