First Community Co. (NASDAQ:FCCO) Short Interest Down 16.3% in March

First Community Co. (NASDAQ:FCCO) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 115,300 shares, a drop of 16.3% from the February 28th total of 137,800 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 54,800 shares, the days-to-cover ratio is presently 2.1 days.

First Community Stock Performance

First Community stock traded down $1.32 during trading hours on Thursday, reaching $21.38. 46,183 shares of the stock were exchanged, compared to its average volume of 36,653. First Community has a 52-week low of $15.40 and a 52-week high of $27.96. The stock has a market cap of $164.01 million, a P/E ratio of 11.81 and a beta of 0.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.79 and a current ratio of 0.79. The firm’s 50 day moving average is $24.55 and its 200 day moving average is $23.95.

First Community (NASDAQ:FCCO) last posted its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $0.43 earnings per share. Analysts predict that First Community will post 2.28 EPS for the current fiscal year.

First Community Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Tuesday, February 4th. First Community’s dividend payout ratio (DPR) is 33.15%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCCO. Rhino Investment Partners Inc purchased a new stake in First Community during the fourth quarter worth $6,012,000. Susquehanna International Group LLP raised its stake in shares of First Community by 183.1% during the 4th quarter. Susquehanna International Group LLP now owns 91,733 shares of the bank’s stock worth $2,202,000 after buying an additional 59,335 shares during the last quarter. Millennium Management LLC boosted its position in shares of First Community by 31.7% in the 4th quarter. Millennium Management LLC now owns 90,731 shares of the bank’s stock worth $2,178,000 after buying an additional 21,832 shares in the last quarter. Two Sigma Investments LP grew its stake in First Community by 79.7% in the 4th quarter. Two Sigma Investments LP now owns 39,517 shares of the bank’s stock valued at $948,000 after acquiring an additional 17,532 shares during the last quarter. Finally, Two Sigma Advisers LP increased its holdings in First Community by 77.3% during the 4th quarter. Two Sigma Advisers LP now owns 37,400 shares of the bank’s stock valued at $898,000 after acquiring an additional 16,300 shares in the last quarter. 61.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports 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. Hovde Group increased their target price 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. Finally, Raymond James upgraded First Community from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $27.00 to $30.00 in a research report on Thursday, January 23rd.

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.