Short Interest in First Community Co. (NASDAQ:FCCO) Rises By 94.9%

First Community Co. (NASDAQ:FCCO) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 130,200 shares, a growth of 94.9% from the January 31st total of 66,800 shares. Approximately 1.8% of the shares of the stock are sold short. Based on an average trading volume of 51,100 shares, the short-interest ratio is currently 2.5 days.

Institutional Trading of First Community

Large investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in shares of First Community during the fourth quarter worth approximately $39,000. Cubist Systematic Strategies LLC grew its position in shares of First Community by 63.6% during the fourth quarter. Cubist Systematic Strategies LLC now owns 6,369 shares of the bank’s stock worth $153,000 after buying an additional 2,475 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of First Community during the fourth quarter worth approximately $206,000. Barclays PLC grew its position in shares of First Community by 214.0% during the third quarter. Barclays PLC now owns 10,046 shares of the bank’s stock worth $215,000 after buying an additional 6,847 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in First Community by 419.8% during the fourth quarter. Wells Fargo & Company MN now owns 9,357 shares of the bank’s stock worth $225,000 after purchasing an additional 7,557 shares during the last quarter. Institutional investors and hedge funds own 61.25% of the company’s stock.

First Community Price Performance

NASDAQ FCCO traded up $0.28 during trading hours on Friday, reaching $24.93. The company’s stock had a trading volume of 48,555 shares, compared to its average volume of 65,245. The stock has a market cap of $190.49 million, a PE ratio of 13.77 and a beta of 0.42. First Community has a fifty-two week low of $15.40 and a fifty-two week high of $27.96. The company’s 50-day moving average is $25.05 and its two-hundred day moving average is $23.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 0.79.

First Community (NASDAQ:FCCO) last issued its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.06. First Community had a net margin of 13.49% and a return on equity of 10.14%. During the same period in the previous year, the business posted $0.43 EPS. Analysts forecast that First Community will post 2.28 EPS for the current year.

First Community Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Tuesday, February 4th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Tuesday, February 4th. First Community’s dividend payout ratio (DPR) is 33.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Janney Montgomery Scott upgraded shares of First Community from a “neutral” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Tuesday, February 4th. Raymond James raised shares of First Community from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $27.00 to $30.00 in a research note on Thursday, January 23rd. Finally, Hovde Group upped their price target on shares of First Community from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd.

First Community Company Profile

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.