Macquarie Group Ltd. Buys New Position in First Community Co. (FCCO)
Macquarie Group Ltd. bought a new stake in shares of First Community Co. (NASDAQ:FCCO) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,112 shares of the bank’s stock, valued at approximately $103,000.
A number of other hedge funds have also added to or reduced their stakes in FCCO. Dimensional Fund Advisors LP lifted its position in First Community by 139.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 34,145 shares of the bank’s stock valued at $782,000 after acquiring an additional 19,885 shares in the last quarter. Stifel Financial Corp lifted its position in First Community by 9.5% in the 1st quarter. Stifel Financial Corp now owns 24,772 shares of the bank’s stock valued at $568,000 after acquiring an additional 2,139 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in First Community by 26.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 497,341 shares of the bank’s stock valued at $11,389,000 after acquiring an additional 105,275 shares in the last quarter. Millennium Management LLC lifted its position in First Community by 20.1% in the 1st quarter. Millennium Management LLC now owns 12,997 shares of the bank’s stock valued at $298,000 after acquiring an additional 2,174 shares in the last quarter. Finally, Brown Advisory Inc. bought a new position in First Community in the 1st quarter valued at approximately $303,000. Hedge funds and other institutional investors own 52.18% of the company’s stock.
Several equities analysts have recently weighed in on the company. Zacks Investment Research raised First Community from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Friday, July 20th. ValuEngine raised First Community from a “hold” rating to a “buy” rating in a report on Thursday, July 5th.
First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, July 18th. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.02. The firm had revenue of $11.85 million for the quarter, compared to analysts’ expectations of $11.65 million. First Community had a return on equity of 9.59% and a net margin of 17.48%. As a group, analysts forecast that First Community Co. will post 1.52 EPS for the current fiscal year.
In other news, CFO Joseph G. Sawyer sold 5,113 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $25.55, for a total transaction of $130,637.15. Following the transaction, the chief financial officer now directly owns 34,219 shares of the company’s stock, valued at approximately $874,295.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.38% of the stock is owned by corporate insiders.
About First Community
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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