First Community Co. (NASDAQ:FCCO) Short Interest Down 90.0% in July

First Community Co. (NASDAQ:FCCO) saw a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 18,000 shares, a decline of 90.0% from the June 30th total of 180,000 shares. Based on an average daily trading volume, of 46,200 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.3% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of First Community from a “sell” rating to a “hold” rating in a research report on Monday, July 1st.

First Community Stock Down 1.9 %

NASDAQ FCCO traded down $0.44 on Friday, reaching $22.75. The company had a trading volume of 36,777 shares, compared to its average volume of 74,971. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.78 and a quick ratio of 0.78. First Community has a 1 year low of $15.40 and a 1 year high of $23.30. The firm has a 50-day moving average of $17.71 and a 200-day moving average of $17.35. The firm has a market capitalization of $173.56 million, a PE ratio of 15.91 and a beta of 0.43.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, July 17th. The bank reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. First Community had a net margin of 11.60% and a return on equity of 8.44%. The business had revenue of $25.57 million during the quarter, compared to the consensus estimate of $15.42 million. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, equities research analysts anticipate that First Community will post 1.67 EPS for the current fiscal year.

First Community Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 13th. Stockholders of record on Tuesday, July 30th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.64%. This is a positive change from First Community’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, July 30th. First Community’s payout ratio is presently 41.96%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Hobbs Group Advisors LLC purchased a new stake in First Community during the 2nd quarter worth approximately $49,000. BNP Paribas Financial Markets grew its position in shares of First Community by 41.0% during the first quarter. BNP Paribas Financial Markets now owns 3,373 shares of the bank’s stock worth $59,000 after buying an additional 981 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of First Community by 522.1% in the fourth quarter. New York State Common Retirement Fund now owns 3,465 shares of the bank’s stock worth $75,000 after buying an additional 2,908 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in First Community in the first quarter valued at $239,000. Finally, Empowered Funds LLC boosted its stake in First Community by 8.1% during the 1st quarter. Empowered Funds LLC now owns 32,688 shares of the bank’s stock valued at $570,000 after acquiring an additional 2,450 shares during the last quarter. Institutional investors and hedge funds own 61.25% of the company’s stock.

First Community Company Profile

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.