Renaissance Technologies LLC Lowers Stock Position in First Community Co. (NASDAQ:FCCO)

Renaissance Technologies LLC reduced its holdings in First Community Co. (NASDAQ:FCCO) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,367 shares of the bank’s stock after selling 5,397 shares during the quarter. Renaissance Technologies LLC owned about 0.96% of First Community worth $1,266,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in First Community in the second quarter valued at $49,000. BNP Paribas Financial Markets boosted its holdings in 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. Quadrature Capital Ltd acquired a new position in First Community during the first quarter worth about $239,000. Acadian Asset Management LLC increased its holdings in First Community by 22.1% in the second quarter. Acadian Asset Management LLC now owns 19,474 shares of the bank’s stock valued at $335,000 after buying an additional 3,525 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of 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 period. 61.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

First Community Stock Performance

First Community stock opened at $20.90 on Friday. The stock has a market cap of $159.45 million, a PE ratio of 14.62 and a beta of 0.41. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $21.34 and a 200 day moving average price of $18.66. First Community Co. has a 52 week low of $15.40 and a 52 week high of $23.30.

First Community (NASDAQ:FCCO) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $25.57 million during the quarter, compared to the consensus estimate of $15.42 million. First Community had a net margin of 11.60% and a return on equity of 8.33%. During the same period in the previous year, the firm posted $0.43 earnings per share. Equities research analysts predict that First Community Co. will post 1.67 earnings per share for the current fiscal year.

First Community Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Shareholders of record on Tuesday, July 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.87%. This is a positive change from First Community’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, July 30th. First Community’s dividend payout ratio (DPR) is presently 41.96%.

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.