Rhino Investment Partners Inc Sells 234,274 Shares of First Community Corporation $FCCO

Rhino Investment Partners Inc lessened its position in shares of First Community Corporation (NASDAQ:FCCO) by 93.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,222 shares of the bank’s stock after selling 234,274 shares during the quarter. Rhino Investment Partners Inc’s holdings in First Community were worth $366,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FCCO. Signaturefd LLC increased its position in shares of First Community by 846.7% during the first quarter. Signaturefd LLC now owns 2,168 shares of the bank’s stock worth $49,000 after buying an additional 1,939 shares during the period. Cubist Systematic Strategies LLC boosted its position in First Community by 63.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 6,369 shares of the bank’s stock valued at $153,000 after acquiring an additional 2,475 shares during the last quarter. Marshall Wace LLP acquired a new stake in First Community during the 4th quarter worth about $206,000. Wells Fargo & Company MN raised its position in shares of First Community by 419.8% in 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 in the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of First Community in the 4th quarter valued at about $284,000. Institutional investors and hedge funds own 61.25% of the company’s stock.

Analysts Set New Price Targets

Separately, Hovde Group lifted their target price on First Community from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $29.67.

First Community Stock Performance

Shares of First Community stock opened at $26.15 on Thursday. The business has a 50-day simple moving average of $24.72 and a 200 day simple moving average of $23.95. First Community Corporation has a one year low of $19.46 and a one year high of $27.96. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.78 and a quick ratio of 0.77. The firm has a market capitalization of $200.99 million, a price-to-earnings ratio of 11.73 and a beta of 0.41.

First Community (NASDAQ:FCCO) last announced its quarterly earnings data on Wednesday, July 23rd. The bank reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. First Community had a return on equity of 11.65% and a net margin of 15.87%.The firm had revenue of $19.53 million during the quarter, compared to analysts’ expectations of $18.56 million. On average, research analysts anticipate that First Community Corporation will post 2.28 earnings per share for the current fiscal year.

First Community Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.16 per share. This is an increase from First Community’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Tuesday, August 5th. First Community’s dividend payout ratio is 28.70%.

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.