Fifth Third Wealth Advisors LLC Buys Shares of 288,406 First Community Corporation $FCCO

Fifth Third Wealth Advisors LLC purchased a new stake in shares of First Community Corporation (NASDAQ:FCCO) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 288,406 shares of the bank’s stock, valued at approximately $8,430,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Maltese Capital Management LLC raised its stake in shares of First Community by 5.3% during the 4th quarter. Maltese Capital Management LLC now owns 252,500 shares of the bank’s stock worth $7,487,000 after acquiring an additional 12,769 shares in the last quarter. Millennium Management LLC grew its holdings in 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 purchasing an additional 104,796 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Community by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 185,022 shares of the bank’s stock worth $5,486,000 after purchasing an additional 12,902 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Community by 103.4% during the 2nd quarter. Geode Capital Management LLC now owns 174,732 shares of the bank’s stock valued at $4,260,000 after purchasing an additional 88,807 shares during the last quarter. Finally, State Street Corp boosted its position in shares of First Community by 11.5% in the 4th quarter. State Street Corp now owns 98,264 shares of the bank’s stock worth $2,914,000 after purchasing an additional 10,110 shares in the last quarter. Hedge funds and other institutional investors own 61.25% of the company’s stock.

First Community Price Performance

Shares of NASDAQ FCCO opened at $32.74 on Thursday. First Community Corporation has a 52 week low of $23.35 and a 52 week high of $33.03. The business’s 50 day moving average price is $30.62 and its 200 day moving average price is $29.94. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. The firm has a market cap of $307.76 million, a P/E ratio of 12.84 and a beta of 0.35.

First Community (NASDAQ:FCCO) last announced its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.72 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $23.61 million. On average, sell-side analysts expect that First Community Corporation will post 2.97 earnings per share for the current year.

First Community Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 19th. Shareholders of record on Tuesday, May 5th were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, May 5th. First Community’s dividend payout ratio is presently 25.10%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, First Community presently has an average rating of “Moderate Buy” and an average target price of $34.00.

First Community 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.