Short Interest in First Community Co. (NASDAQ:FCCO) Expands By 12.4%

First Community Co. (NASDAQ:FCCO) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 70,700 shares, an increase of 12.4% from the September 30th total of 62,900 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 8,000 shares, the short-interest ratio is currently 8.8 days.

FCCO traded up $0.10 during midday trading on Wednesday, hitting $19.65. The company had a trading volume of 1,122 shares, compared to its average volume of 20,004. First Community has a 52 week low of $17.08 and a 52 week high of $23.96. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $138.02 million, a price-to-earnings ratio of 13.72 and a beta of 0.89. The stock’s 50 day moving average price is $19.12 and its 200 day moving average price is $18.74.

First Community (NASDAQ:FCCO) last posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.04. First Community had a net margin of 20.48% and a return on equity of 9.42%. The firm had revenue of $12.47 million during the quarter, compared to the consensus estimate of $12.09 million. Research analysts predict that First Community will post 1.42 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Thursday, October 31st will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.24%. The ex-dividend date is Wednesday, October 30th. First Community’s dividend payout ratio (DPR) is currently 30.34%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Capital Investment Advisory Services LLC increased its stake in First Community by 386.0% in the second quarter. Capital Investment Advisory Services LLC now owns 2,673 shares of the bank’s stock valued at $52,000 after purchasing an additional 2,123 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of First Community during the third quarter worth about $146,000. Weiss Asset Management LP bought a new stake in shares of First Community during the second quarter worth about $254,000. First Trust Advisors LP increased its position in shares of First Community by 22.2% during the third quarter. First Trust Advisors LP now owns 15,771 shares of the bank’s stock worth $307,000 after acquiring an additional 2,864 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of First Community by 11.7% during the second quarter. Acadian Asset Management LLC now owns 30,873 shares of the bank’s stock worth $571,000 after acquiring an additional 3,235 shares in the last quarter. 50.80% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on FCCO shares. Zacks Investment Research upgraded shares of First Community from a “sell” rating to a “hold” rating and set a $22.00 target price on the stock in a report on Friday, October 18th. ValuEngine upgraded shares of First Community from a “hold” rating to a “buy” rating in a report on Monday. Finally, DA Davidson started coverage on shares of First Community in a report on Tuesday, August 20th. They issued a “neutral” rating and a $20.50 target price on the stock.

First Community Company Profile

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

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