46,087 Shares in First Community Corporation $FCCO Acquired by Pinnacle Holdings LLC

Pinnacle Holdings LLC purchased a new position in First Community Corporation (NASDAQ:FCCO) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 46,087 shares of the bank’s stock, valued at approximately $1,506,000.

Several other hedge funds have also bought and sold shares of the business. Advisory Services Network LLC bought a new position in shares of First Community in the third quarter valued at $26,000. BNP Paribas Financial Markets increased its position in shares of First Community by 324.2% during the second quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock worth $33,000 after acquiring an additional 1,031 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of First Community in the 2nd quarter worth about $99,000. New York State Common Retirement Fund acquired a new stake in shares of First Community in the 2nd quarter worth about $102,000. Finally, Raymond James Financial Inc. bought a new position in First Community in the 2nd quarter valued at about $182,000. Institutional investors and hedge funds own 61.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FCCO shares. Wall Street Zen downgraded First Community from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Hovde Group raised their target price on First Community from $36.00 to $37.50 and gave the company an “outperform” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.50.

First Community Stock Performance

NASDAQ:FCCO opened at $33.72 on Monday. First Community Corporation has a 52 week low of $25.92 and a 52 week high of $35.74. The firm has a 50-day moving average price of $33.18 and a two-hundred day moving average price of $31.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.81 and a current ratio of 0.82. The firm has a market cap of $316.97 million, a price-to-earnings ratio of 12.58 and a beta of 0.34.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.15. The firm had revenue of $25.14 million for the quarter, compared to the consensus estimate of $24.69 million. First Community had a return on equity of 13.23% and a net margin of 18.32%. On average, equities analysts expect that First Community Corporation will post 3.13 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 18th. Shareholders of record on Tuesday, August 4th were given a $0.17 dividend. This is an increase from First Community’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Tuesday, August 4th. First Community’s payout ratio is presently 25.37%.

Insiders Place Their Bets

In other First Community news, EVP Fred Joseph Deutsch sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total value of $345,200.00. Following the completion of the transaction, the executive vice president owned 18,468 shares in the company, valued at $637,515.36. This represents a 35.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 8.84% of the company’s stock.

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.