Bank of America Corp DE Purchases 6,759 Shares of First Community Co. (NASDAQ:FCCO)

Bank of America Corp DE increased its stake in shares of First Community Co. (NASDAQ:FCCO) by 92.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,098 shares of the bank’s stock after buying an additional 6,759 shares during the period. Bank of America Corp DE owned 0.18% of First Community worth $338,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FCCO. Global Retirement Partners LLC acquired a new stake in First Community in the 4th quarter worth about $39,000. Marshall Wace LLP bought a new stake in First Community during the 4th quarter worth approximately $206,000. Wells Fargo & Company MN grew its holdings in First Community by 419.8% during the 4th quarter. Wells Fargo & Company MN now owns 9,357 shares of the bank’s stock worth $225,000 after acquiring an additional 7,557 shares during the last quarter. 683 Capital Management LLC bought a new stake in shares of First Community in the 4th quarter valued at $333,000. Finally, Northern Trust Corp boosted its stake in shares of First Community by 2.8% in the 4th quarter. Northern Trust Corp now owns 14,798 shares of the bank’s stock valued at $355,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 61.25% of the company’s stock.

First Community Stock Performance

FCCO opened at $23.23 on Friday. The company’s fifty day moving average price is $22.99 and its two-hundred day moving average price is $23.98. The company has a market cap of $178.45 million, a price-to-earnings ratio of 12.83 and a beta of 0.37. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.45. First Community Co. has a 1-year low of $16.06 and a 1-year high of $27.96.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.51 EPS for the quarter, beating the consensus estimate of $0.47 by $0.04. The company had revenue of $18.37 million during the quarter, compared to the consensus estimate of $17.39 million. First Community had a net margin of 13.49% and a return on equity of 10.14%. On average, analysts expect that First Community Co. will post 2.28 EPS for the current fiscal year.

First Community Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Tuesday, May 6th were given a dividend of $0.15 per share. The ex-dividend date was Tuesday, May 6th. This represents a $0.60 annualized dividend and a yield of 2.58%. First Community’s payout ratio is currently 30.30%.

Analyst Ratings Changes

Separately, Hovde Group increased their target price on shares of First Community from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th.

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.