First Community (NASDAQ:FCCO) Share Price Crosses Above 200 Day Moving Average – What’s Next?

First Community Corporation (NASDAQ:FCCO) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.59 and traded as high as $33.79. First Community shares last traded at $33.49, with a volume of 25,519 shares changing hands.

Analyst Ratings Changes

FCCO has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of First Community from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Hovde Group lifted their price target on First Community from $36.00 to $37.50 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $37.50.

First Community Price Performance

The company’s 50-day simple moving average is $33.81 and its 200-day simple moving average is $31.62. The stock has a market capitalization of $303.15 million, a price-to-earnings ratio of 12.03 and a beta of 0.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81.

First Community (NASDAQ:FCCO) last issued its quarterly 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. First Community had a return on equity of 13.23% and a net margin of 18.32%.The business had revenue of $25.14 million during the quarter, compared to analysts’ expectations of $24.69 million. Research analysts forecast that First Community Corporation will post 3.14 earnings per share for the current fiscal year.

First Community Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.17 per share. This is an increase from First Community’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $0.68 annualized dividend and a dividend yield of 2.1%. First Community’s payout ratio is currently 25.37%.

Insider Buying and Selling

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total value of $345,200.00. Following the completion of the transaction, the executive vice president owned 18,468 shares of the company’s stock, valued at $637,515.36. The trade was a 35.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan W. Been sold 14,800 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $34.05, for a total transaction of $503,940.00. Following the sale, the director directly owned 120,655 shares of the company’s stock, valued at $4,108,302.75. This represents a 10.93% decrease in their position. The SEC filing for this sale provides additional information. 8.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in First Community during the second quarter valued at approximately $195,000. NewEdge Advisors LLC boosted its holdings in shares of First Community by 24.7% in the 1st quarter. NewEdge Advisors LLC now owns 10,607 shares of the bank’s stock valued at $310,000 after purchasing an additional 2,099 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of First Community in the 4th quarter valued at $524,000. Lazard Asset Management LLC bought a new position in shares of First Community in the 1st quarter valued at $594,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of First Community during the 2nd quarter worth $796,000. 61.25% of the stock is owned by institutional investors.

First Community Company Profile

First Community Corporation is the bank holding company for First Community Bank, a community-focused financial institution headquartered in Lexington, South Carolina. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and nonprofit organizations.

First Community Bank offers deposit accounts, consumer and commercial loans, residential mortgage lending, home equity products, and other business banking services. Its offerings also include treasury management, online and mobile banking, and wealth management services designed to support customers’ personal and business financial needs.

First Community serves customers through offices and digital banking channels in South Carolina, with a presence in the Midlands and other selected markets in the state.