Analysts Set $24.00 Price Target for First Community Co. (FCCO)

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Shares of First Community Co. (NASDAQ:FCCO) have been assigned a consensus broker rating score of 3.00 (Hold) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.

Brokers have set a 1 year consensus price target of $24.00 for the company and are forecasting that the company will post $0.37 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.

A number of equities analysts have issued reports on the company. ValuEngine downgraded First Community from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research upgraded First Community from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Friday, April 20th.

In other news, insider Michael C. Crapps sold 1,262 shares of the stock in a transaction on Friday, April 27th. The stock was sold at an average price of $23.00, for a total value of $29,026.00. Following the sale, the insider now directly owns 68,196 shares of the company’s stock, valued at $1,568,508. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.38% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Abacus Planning Group Inc. purchased a new stake in shares of First Community in the first quarter worth $258,000. Wells Fargo & Company MN grew its stake in shares of First Community by 528.5% in the fourth quarter. Wells Fargo & Company MN now owns 13,809 shares of the bank’s stock worth $313,000 after acquiring an additional 11,612 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of First Community in the fourth quarter worth $240,000. Renaissance Technologies LLC purchased a new stake in shares of First Community in the fourth quarter worth $348,000. Finally, Millennium Management LLC purchased a new stake in shares of First Community in the fourth quarter worth $245,000. 41.25% of the stock is currently owned by hedge funds and other institutional investors.

First Community remained flat at $$23.45 during trading on Monday, according to Marketbeat. The company’s stock had a trading volume of 17,677 shares, compared to its average volume of 22,159. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.74 and a current ratio of 0.75. The company has a market capitalization of $178.24 million, a P/E ratio of 21.51 and a beta of 0.72. First Community has a twelve month low of $18.90 and a twelve month high of $24.87.

First Community (NASDAQ:FCCO) last posted its quarterly earnings data on Wednesday, April 18th. The bank reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. The business had revenue of $11.17 million during the quarter, compared to the consensus estimate of $10.83 million. First Community had a return on equity of 8.75% and a net margin of 15.38%. sell-side analysts predict that First Community will post 1.48 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, May 14th. Stockholders of record on Monday, April 30th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, April 27th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.71%. First Community’s dividend payout ratio is currently 36.70%.

First Community Company Profile

First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals. The company operates through four segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate.

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