First Community (NASDAQ:FCCO) Issues Quarterly Earnings Results

First Community (NASDAQ:FCCO) issued its quarterly earnings data on Wednesday. The bank reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06, Zacks reports. First Community had a net margin of 18.32% and a return on equity of 13.23%.

First Community Price Performance

Shares of FCCO stock traded up $0.47 during trading hours on Wednesday, reaching $33.08. 8,598 shares of the company were exchanged, compared to its average volume of 72,216. First Community has a fifty-two week low of $26.42 and a fifty-two week high of $35.74. The stock’s fifty day moving average is $33.32 and its two-hundred day moving average is $32.19. The company has a market cap of $310.90 million, a price-to-earnings ratio of 12.34 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.

Insider Activity

In related news, Director Jonathan W. Been sold 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $34.05, for a total value of $503,940.00. Following the completion of the sale, the director owned 120,655 shares of the company’s stock, valued at $4,108,302.75. This trade represents a 10.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jane Sosebee purchased 1,250 shares of the stock in a transaction that occurred on Tuesday, August 25th. The stock was bought at an average cost of $33.95 per share, with a total value of $42,437.50. Following the acquisition, the director owned 10,855 shares of the company’s stock, valued at $368,527.25. This represents a 13.01% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 24,800 shares of company stock valued at $849,140 over the last three months. 8.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FCCO has been the topic of a number of research analyst reports. Hovde Group increased their price target on First Community from $36.00 to $37.50 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a research note on Thursday, October 15th. Finally, Wall Street Zen lowered First Community from a “buy” rating to a “hold” rating in a research note on Sunday, October 11th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $37.50.

First Community Company Profile

First Community Corporation is a bank holding company headquartered in Lexington, South Carolina. Through its principal subsidiary, First Community Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

First Community Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing and other credit products. Its services also include online and mobile banking, treasury management, mortgage banking, wealth management and investment services.

Founded in 1995, First Community serves communities across South Carolina through a network of banking offices and digital channels.