Short-term stake in First Community Co. (NASDAQ:FCCO) drops 39.5%

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First Community Co. (NASDAQ:FCCO – Get Rating) benefited from a significant drop in short interest during the month of August. As of August 31, there was short interest totaling 2,600 shares, down 39.5% from the total of 4,300 shares as of August 15. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 8,100 shares, the day-to-cover ratio is currently 0.3 days.

Hedge funds weigh on the first community

Hedge funds have recently changed their positions in the business. The Manufacturers Life Insurance Company increased its holdings in First Community by 1.1% during the first quarter. The Manufacturers Life Insurance Company now owns 409,357 shares of the bank valued at $8,678,000 after purchasing an additional 4,305 shares last quarter. Banc Funds Co. LLC increased its holdings in First Community by 11.1% during the first quarter. Banc Funds Co. LLC now owns 400,522 shares of the bank valued at $8,491,000 after purchasing an additional 40,018 shares last quarter. Fourthstone LLC increased its stake in First Community by 50.9% in the 1st quarter. Fourthstone LLC now owns 280,735 shares of the bank valued at $5,952,000 after purchasing an additional 94,705 shares last quarter. Hunter Perkins Capital Management LLC increased its stake in First Community by 3.6% during the second quarter. Hunter Perkins Capital Management LLC now owns 230,025 shares of the bank valued at $4,410,000 after buying an additional 8,000 shares last quarter. Finally, Strategic Value Bank Partners LLC increased its stake in First Community by 58.2% in the 1st quarter. Strategic Value Bank Partners LLC now owns 218,410 shares of the bank worth $4,630,000 after acquiring 80,358 additional shares last quarter. Hedge funds and other institutional investors hold 49.97% of the company’s shares.

First community exchange down 0.2%

NASDAQ: FCCO lost $0.04 during Friday trading hours, hitting $17.65. 31,735 shares of the company were traded, against an average volume of 8,878. The company has a leverage ratio of 0.13, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market capitalization of $133.56 million, a price-earnings ratio of 8.74 and a beta of 0.55. First Community has a 52-week minimum of $17.39 and a 52-week maximum of $23.42. The stock has a 50-day simple moving average of $18.18 and a 200-day simple moving average of $19.27.

First Community (NASDAQ:FCCO – Get Rating) last released its results on Wednesday, July 20. The bank reported EPS of $0.41 for the quarter, missing analyst consensus estimates of $0.44 per ($0.03). First Community had a net margin of 25.09% and a return on equity of 11.69%. The company posted revenue of $14.06 million in the quarter, compared to $14.36 million expected by analysts. As a group, analysts expect First Community to post 1.8 EPS for the current year.

The first community announces a dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 16. Shareholders of record on Tuesday August 2 received a dividend of $0.13. This represents a dividend of $0.52 on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Monday, August 1. First Community’s dividend payout ratio is currently 25.74%.

Changes to analyst ratings

A number of analysts have recently released reports on FCCO shares. StockNews.com began covering First Community stocks in a research report on Saturday, September 10. They have set a “holding” rating on the stock. Piper Sandler lowered her target price on First Community shares to $20.00 in a Friday, July 22 research report.

About the first community

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First Community Corporation operates as a bank holding company for First Community Bank which offers various commercial and retail banking products and services to small and medium-sized businesses, professionals and individuals. The Company operates through the Commercial and Retail Banking, Mortgage Banking, and Investment and Non-Deposit Advisory segments.

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