Zacks: Analysts Anticipate First Community Corporation (FCCO) Will Post Quarterly Sales of $10.68 Million
Equities research analysts expect First Community Corporation (NASDAQ:FCCO) to announce $10.68 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for First Community Corporation’s earnings. The lowest sales estimate is $10.43 million and the highest is $10.93 million. First Community Corporation reported sales of $8.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.8%. The firm is scheduled to issue its next quarterly earnings results on Wednesday, January 17th.
On average, analysts expect that First Community Corporation will report full-year sales of $10.68 million for the current financial year, with estimates ranging from $38.90 million to $39.31 million. For the next year, analysts expect that the firm will post sales of $45.94 million per share, with estimates ranging from $45.60 million to $46.28 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for First Community Corporation.
First Community Corporation (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, October 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). First Community Corporation had a net margin of 17.69% and a return on equity of 8.52%. The firm had revenue of $9.65 million for the quarter, compared to analyst estimates of $9.79 million.
Several analysts have commented on the stock. Zacks Investment Research downgraded shares of First Community Corporation from a “hold” rating to a “sell” rating in a report on Friday, October 6th. ValuEngine downgraded shares of First Community Corporation from a “buy” rating to a “hold” rating in a report on Friday, October 20th.
In related news, Director George H. Fann, Jr. bought 5,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were purchased at an average cost of $20.55 per share, for a total transaction of $102,750.00. Following the acquisition, the director now owns 84,616 shares of the company’s stock, valued at approximately $1,738,858.80. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director George H. Fann, Jr. bought 1,903 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were bought at an average price of $20.35 per share, for a total transaction of $38,726.05. Following the completion of the acquisition, the director now directly owns 86,519 shares in the company, valued at approximately $1,760,661.65. The disclosure for this purchase can be found here. Company insiders own 8.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of FCCO. Stifel Financial Corp raised its holdings in shares of First Community Corporation by 26.4% in the first quarter. Stifel Financial Corp now owns 18,906 shares of the bank’s stock valued at $416,000 after purchasing an additional 3,946 shares during the last quarter. Geode Capital Management LLC acquired a new stake in shares of First Community Corporation in the first quarter valued at approximately $1,146,000. Janus Henderson Group PLC acquired a new stake in shares of First Community Corporation in the second quarter valued at approximately $1,141,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of First Community Corporation by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 390,962 shares of the bank’s stock valued at $8,210,000 after purchasing an additional 7,919 shares during the last quarter. Institutional investors own 47.13% of the company’s stock.
First Community Corporation (NASDAQ:FCCO) opened at 22.95 on Friday. First Community Corporation has a 12 month low of $14.80 and a 12 month high of $23.55. The company’s 50-day moving average is $21.01 and its 200-day moving average is $20.79. The stock has a market capitalization of $153.70 million, a P/E ratio of 22.72 and a beta of 0.81.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Wednesday, November 1st will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, October 31st. This represents a $0.36 annualized dividend and a yield of 1.57%. First Community Corporation’s dividend payout ratio (DPR) is currently 34.62%.
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About First Community Corporation
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.
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