First Community (NASDAQ:FCCO) Shares Cross Above 200-Day Moving Average – Here’s What Happened

First Community Corporation (NASDAQ:FCCO) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $29.59 and traded as high as $30.79. First Community shares last traded at $29.8850, with a volume of 87,374 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

First Community Trading Down 2.7%

The company has a market cap of $280.92 million, a price-to-earnings ratio of 11.72 and a beta of 0.35. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82. The business’s 50 day moving average price is $29.99 and its 200-day moving average price is $29.59.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, April 22nd. The bank reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.08. The business had revenue of $23.16 million during the quarter, compared to analysts’ expectations of $23.61 million. First Community had a net margin of 17.29% and a return on equity of 13.00%. On average, research analysts forecast that First Community Corporation will post 2.97 EPS for the current year.

First Community Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, May 5th. First Community’s dividend payout ratio (DPR) is 25.10%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in First Community during the 1st quarter worth approximately $594,000. Arrowstreet Capital Limited Partnership raised its holdings in First Community by 55.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 54,575 shares of the bank’s stock worth $1,595,000 after buying an additional 19,418 shares during the period. NewEdge Advisors LLC raised its holdings in First Community by 24.7% during the 1st quarter. NewEdge Advisors LLC now owns 10,607 shares of the bank’s stock worth $310,000 after buying an additional 2,099 shares during the period. Hsbc Holdings PLC raised its holdings in First Community by 7.3% during the 1st quarter. Hsbc Holdings PLC now owns 18,938 shares of the bank’s stock worth $553,000 after buying an additional 1,286 shares during the period. Finally, Anchor Investment Management LLC raised its holdings in First Community by 8.3% during the 1st quarter. Anchor Investment Management LLC now owns 35,776 shares of the bank’s stock worth $1,046,000 after buying an additional 2,730 shares during the period. Institutional investors own 61.25% of the company’s stock.

First Community Company Profile

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.