Point72 Asia Singapore Pte. Ltd. Takes Position in First Community Co. (NASDAQ:FCCO)

Point72 Asia Singapore Pte. Ltd. bought a new position in First Community Co. (NASDAQ:FCCO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 11,011 shares of the bank’s stock, valued at approximately $190,000. Point72 Asia Singapore Pte. Ltd. owned about 0.14% of First Community as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Hobbs Group Advisors LLC bought a new stake in First Community during the second quarter worth about $49,000. Cubist Systematic Strategies LLC acquired a new stake in First Community during the 2nd quarter valued at $58,000. BNP Paribas Financial Markets increased its holdings in First Community by 41.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,373 shares of the bank’s stock valued at $59,000 after purchasing an additional 981 shares in the last quarter. Quadrature Capital Ltd bought a new position in First Community in the 1st quarter valued at $239,000. Finally, Squarepoint Ops LLC acquired a new position in First Community in the second quarter worth $261,000. Institutional investors and hedge funds own 61.25% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded First Community from a “sell” rating to a “hold” rating in a research note on Monday, July 1st.

First Community Price Performance

Shares of FCCO stock opened at $21.65 on Friday. First Community Co. has a 1 year low of $15.40 and a 1 year high of $23.30. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $21.46 and its 200-day moving average is $18.48. The firm has a market capitalization of $165.17 million, a price-to-earnings ratio of 15.14 and a beta of 0.41.

First Community (NASDAQ:FCCO) last posted its quarterly earnings data on Wednesday, July 17th. The bank reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $25.57 million for the quarter, compared to the consensus estimate of $15.42 million. First Community had a return on equity of 8.33% and a net margin of 11.60%. During the same quarter in the prior year, the business earned $0.43 EPS. Sell-side analysts forecast that First Community Co. will post 1.67 EPS for the current fiscal year.

First Community Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 13th. Investors of record on Tuesday, July 30th were issued a $0.15 dividend. This is a boost from First Community’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $0.60 annualized dividend and a yield of 2.77%. First Community’s dividend payout ratio (DPR) is currently 41.96%.

About First Community

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