First Community (NASDAQ:FCCO) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

First Community Corporation (NASDAQ:FCCO) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $29.76 and traded as high as $32.45. First Community shares last traded at $31.91, with a volume of 148,130 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, First Community currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

First Community Trading Up 1.0%

The business’s 50-day moving average price is $30.38 and its 200 day moving average price is $29.77. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $302.87 million, a price-to-earnings ratio of 12.64 and a beta of 0.35.

First Community (NASDAQ:FCCO) last posted its earnings results on Wednesday, April 22nd. The bank reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.08. First Community had a net margin of 17.29% and a return on equity of 13.00%. The business had revenue of $23.16 million for the quarter, compared to analysts’ expectations of $23.61 million. On average, equities analysts forecast that First Community Corporation will post 2.97 earnings per share for the current fiscal year.

First Community Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Tuesday, May 5th. First Community’s payout ratio is presently 25.10%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its stake in shares of First Community by 115.5% in the first quarter. Millennium Management LLC now owns 195,527 shares of the bank’s stock worth $4,411,000 after buying an additional 104,796 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of First Community by 1,230.5% in the first quarter. Jones Financial Companies Lllp now owns 12,640 shares of the bank’s stock worth $285,000 after buying an additional 11,690 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of First Community by 199.8% in the first quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank’s stock worth $2,051,000 after buying an additional 60,596 shares during the last quarter. Empowered Funds LLC increased its stake in shares of First Community by 7.7% in the first quarter. Empowered Funds LLC now owns 10,080 shares of the bank’s stock worth $227,000 after buying an additional 721 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of First Community by 63.7% in the first quarter. Jane Street Group LLC now owns 51,323 shares of the bank’s stock worth $1,158,000 after buying an additional 19,978 shares during the last quarter. 61.25% of the stock is owned by institutional investors and hedge funds.

First Community Company Profile

First Community Financial Corp. (NASDAQ: FCCO) is the bank holding company for First Community Bank, a full-service commercial bank headquartered in Bluefield, West Virginia. Through its subsidiary, the company delivers a comprehensive range of financial services to individuals, small businesses and larger commercial clients. Its operations are focused on community banking, with an emphasis on personalized relationship management and local decision-making.

The company’s core offerings include deposit products such as checking and savings accounts, certificates of deposit and money market accounts, as well as consumer and commercial lending solutions.