The Manufacturers Life Insurance Company Has $6.51 Million Holdings in First Community Co. (NASDAQ:FCCO)

The Manufacturers Life Insurance Company cut its position in shares of First Community Co. (NASDAQ:FCCO) by 0.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 377,422 shares of the bank’s stock after selling 986 shares during the quarter. The Manufacturers Life Insurance Company owned 4.95% of First Community worth $6,511,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of First Community in the 2nd quarter valued at approximately $49,000. Cubist Systematic Strategies LLC acquired a new position in First Community during the second quarter valued at $58,000. BNP Paribas Financial Markets lifted its stake in First Community by 41.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,373 shares of the bank’s stock worth $59,000 after acquiring an additional 981 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in First Community in the 2nd quarter worth about $190,000. Finally, Quadrature Capital Ltd acquired a new stake in First Community during the 1st quarter worth about $239,000. 61.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of First Community from a “sell” rating to a “hold” rating in a report on Monday, July 1st.

First Community Stock Performance

NASDAQ FCCO opened at $20.90 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.48. First Community Co. has a 1-year low of $15.40 and a 1-year high of $23.30. The firm’s fifty day simple moving average is $21.34 and its 200-day simple moving average is $18.66. The company has a market capitalization of $159.45 million, a PE ratio of 14.62 and a beta of 0.41.

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

First Community Increases Dividend

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

First Community 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.