Renaissance Technologies LLC Has $3.66 Million Stock Position in First Community Corporation $FCCO

Renaissance Technologies LLC boosted its holdings in First Community Corporation (NASDAQ:FCCO) by 31.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 125,328 shares of the bank’s stock after purchasing an additional 29,967 shares during the quarter. Renaissance Technologies LLC’s holdings in First Community were worth $3,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Advisory Services Network LLC bought a new position in shares of First Community during the 3rd quarter worth approximately $26,000. BNP Paribas Financial Markets lifted its position in shares of First Community by 324.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock valued at $33,000 after acquiring an additional 1,031 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of First Community during the 2nd quarter valued at $99,000. New York State Common Retirement Fund bought a new position in First Community during the second quarter worth $102,000. Finally, Raymond James Financial Inc. acquired a new stake in First Community in the second quarter worth $182,000. 61.25% of the stock is currently owned by institutional investors.

First Community Stock Down 0.1%

FCCO stock opened at $34.21 on Friday. The stock has a market cap of $321.57 million, a P/E ratio of 12.76 and a beta of 0.34. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $32.59 and its two-hundred day simple moving average is $30.68. First Community Corporation has a 1-year low of $24.57 and a 1-year high of $35.74.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.15. The firm had revenue of $25.14 million during the quarter, compared to analyst estimates of $24.69 million. First Community had a return on equity of 14.03% and a net margin of 18.32%. Analysts expect that First Community Corporation will post 3.13 EPS for the current year.

First Community Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.0%. This is a boost from First Community’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, August 4th. First Community’s dividend payout ratio is 25.37%.

Wall Street Analyst Weigh In

FCCO has been the subject of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a report on Friday, July 17th. Wall Street Zen upgraded shares of First Community from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.00.

Insider Buying and Selling

In other First Community news, EVP Fred Joseph Deutsch sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total value of $345,200.00. Following the transaction, the executive vice president directly owned 18,468 shares in the company, valued at $637,515.36. The trade was a 35.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.84% of the company’s stock.

First Community 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.