JPMorgan Chase & Co. Trims Holdings in First Community Co. (NASDAQ:FCCO)

JPMorgan Chase & Co. lowered its holdings in First Community Co. (NASDAQ:FCCO) by 30.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,808 shares of the bank’s stock after selling 788 shares during the quarter. JPMorgan Chase & Co.’s holdings in First Community were worth $39,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Cubist Systematic Strategies LLC bought a new position in First Community in the second quarter worth about $58,000. Barclays PLC grew its position in shares of First Community by 214.0% in the 3rd quarter. Barclays PLC now owns 10,046 shares of the bank’s stock worth $215,000 after buying an additional 6,847 shares during the period. Squarepoint Ops LLC purchased a new position in shares of First Community in the 2nd quarter worth about $261,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Community in the third quarter worth approximately $289,000. Finally, State Street Corp boosted its stake in First Community by 5.6% during the 3rd quarter. State Street Corp now owns 22,795 shares of the bank’s stock valued at $489,000 after purchasing an additional 1,200 shares during the last quarter. 61.25% of the stock is owned by hedge funds and other institutional investors.

First Community Stock Up 3.9 %

FCCO opened at $26.40 on Wednesday. First Community Co. has a fifty-two week low of $15.40 and a fifty-two week high of $27.28. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $201.70 million, a price-to-earnings ratio of 14.59 and a beta of 0.42. The firm’s fifty day moving average is $24.83 and its 200 day moving average is $23.14.

First Community (NASDAQ:FCCO) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. First Community had a return on equity of 10.14% and a net margin of 13.49%. During the same period in the previous year, the firm posted $0.43 EPS. On average, sell-side analysts forecast that First Community Co. will post 2.15 earnings per share for the current fiscal year.

First Community Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, February 4th. First Community’s dividend payout ratio is presently 33.15%.

Analyst Ratings Changes

A number of equities analysts have weighed in on FCCO shares. Hovde Group boosted their target price on First Community from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Raymond James raised First Community from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $27.00 to $30.00 in a research report on Thursday, January 23rd. Finally, Janney Montgomery Scott upgraded shares of First Community from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday.

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.