First Community Co. Announces Quarterly Dividend of $0.14 (NASDAQ:FCCO)

First Community Co. (NASDAQ:FCCO) announced a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.14 per share by the bank on Tuesday, May 14th. This represents a $0.56 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, April 29th.

First Community has increased its dividend payment by an average of 5.3% annually over the last three years and has raised its dividend every year for the last 2 years. First Community has a dividend payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Community to earn $1.92 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 29.2%.

First Community Stock Performance

FCCO stock remained flat at $15.95 during mid-day trading on Thursday. 18,249 shares of the company’s stock were exchanged, compared to its average volume of 21,747. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.77 and a current ratio of 0.78. First Community has a 52 week low of $15.40 and a 52 week high of $22.00. The stock has a market capitalization of $121.70 million, a P/E ratio of 10.39 and a beta of 0.43. The stock has a 50-day moving average of $16.85 and a two-hundred day moving average of $17.93.

First Community (NASDAQ:FCCO) last posted its quarterly earnings results on Wednesday, April 17th. The bank reported $0.34 EPS for the quarter, hitting the consensus estimate of $0.34. The business had revenue of $24.44 million during the quarter, compared to analysts’ expectations of $14.83 million. First Community had a net margin of 14.25% and a return on equity of 9.43%. Equities research analysts expect that First Community will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on FCCO shares. Raymond James upgraded shares of First Community from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a report on Thursday, January 25th. StockNews.com upgraded shares of First Community from a “sell” rating to a “hold” rating in a report on Thursday, January 25th.

Institutional Trading of First Community

Institutional investors have recently added to or reduced their stakes in the business. UBS Group AG lifted its stake in First Community by 314.7% in the third quarter. UBS Group AG now owns 1,833 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,391 shares during the last quarter. BNP Paribas Arbitrage SNC lifted its stake in First Community by 4,253.3% in the second quarter. BNP Paribas Arbitrage SNC now owns 1,959 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,914 shares during the last quarter. Citigroup Inc. acquired a new stake in First Community in the second quarter valued at approximately $38,000. California State Teachers Retirement System acquired a new stake in First Community in the second quarter valued at approximately $43,000. Finally, MetLife Investment Management LLC acquired a new stake in First Community in the second quarter valued at approximately $70,000. 61.25% of the stock is currently owned by institutional investors and hedge funds.

About First Community

First Community Corporation operates as the bank holding company for First Community Bank that provides various commercial and retail banking products and services to small-to-medium sized businesses, professionals, and individuals. The company operates through Commercial and Retail Banking, Mortgage Banking, and Investment Advisory and Non-Deposit segments.