First Community Co. (FCCO) Receives Average Rating of “Hold” from Brokerages

First Community Co. (NASDAQ:FCCO) has earned a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold recommendation. First Community’s rating score has declined by 79.6% in the last 90 days as a result of a number of analysts’ ratings changes.

Brokerages have set a 1-year consensus target price of $24.00 for the company and are forecasting that the company will post $0.31 earnings per share for the current quarter, according to Zacks. Zacks has also given First Community an industry rank of 34 out of 265 based on the ratings given to its competitors.

Several brokerages have issued reports on FCCO. FIG Partners cut First Community from an “outperform” rating to a “market-perform” rating in a research note on Monday, January 22nd. ValuEngine cut First Community from a “buy” rating to a “hold” rating in a research note on Friday, October 20th. Finally, Zacks Investment Research upgraded First Community from a “sell” rating to a “hold” rating in a research note on Friday, October 20th.

First Community (NASDAQ FCCO) opened at $20.85 on Thursday. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.37. First Community has a one year low of $18.50 and a one year high of $24.87. The company has a market capitalization of $162.38, a PE ratio of 24.53 and a beta of 0.75.

First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, January 17th. The bank reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). First Community had a return on equity of 8.73% and a net margin of 13.91%. The business had revenue of $10.65 million during the quarter, compared to analyst estimates of $10.69 million. analysts forecast that First Community will post 1.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 15th. Shareholders of record on Thursday, February 1st will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a $0.40 annualized dividend and a yield of 1.92%. This is a boost from First Community’s previous quarterly dividend of $0.09. First Community’s dividend payout ratio is presently 47.06%.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp acquired a new stake in shares of First Community during the 4th quarter worth approximately $240,000. Deutsche Bank AG raised its position in shares of First Community by 44.8% during the 4th quarter. Deutsche Bank AG now owns 10,825 shares of the bank’s stock worth $244,000 after purchasing an additional 3,350 shares during the period. Millennium Management LLC acquired a new stake in shares of First Community during the 4th quarter worth approximately $245,000. Wells Fargo & Company MN raised its position in shares of First Community by 528.5% during the 4th quarter. Wells Fargo & Company MN now owns 13,809 shares of the bank’s stock worth $313,000 after purchasing an additional 11,612 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of First Community during the 4th quarter worth approximately $348,000. Hedge funds and other institutional investors own 42.22% of the company’s stock.

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First Community Company Profile

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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