Renaissance Technologies LLC Acquires 29,967 Shares of First Community Corporation $FCCO

Renaissance Technologies LLC raised its stake in First Community Corporation (NASDAQ:FCCO) by 31.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,328 shares of the bank’s stock after acquiring an additional 29,967 shares during the quarter. Renaissance Technologies LLC owned approximately 1.34% of First Community worth $3,663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Advisory Services Network LLC bought a new stake in shares of First Community during the 3rd quarter valued at approximately $26,000. BNP Paribas Financial Markets increased its position in First Community by 324.2% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock worth $33,000 after purchasing an additional 1,031 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in First Community in the 2nd quarter valued at approximately $99,000. New York State Common Retirement Fund bought a new position in First Community in the 2nd quarter valued at approximately $102,000. Finally, Raymond James Financial Inc. acquired a new stake in First Community in the second quarter valued at approximately $182,000. Institutional investors own 61.25% of the company’s stock.

First Community Stock Performance

NASDAQ:FCCO opened at $34.21 on Friday. The stock’s 50-day moving average is $32.59 and its 200-day moving average is $30.68. First Community Corporation has a 1-year low of $24.57 and a 1-year high of $35.74. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. The stock has a market cap of $321.57 million, a P/E ratio of 12.76 and a beta of 0.34.

First Community (NASDAQ:FCCO) last issued its quarterly earnings data on Wednesday, July 22nd. The bank reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.15. First Community had a net margin of 18.32% and a return on equity of 14.03%. The business had revenue of $25.14 million during the quarter, compared to analyst estimates of $24.69 million. Equities research analysts anticipate that First Community Corporation will post 3.13 earnings per share for the current year.

First Community Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Investors of record on Tuesday, August 4th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $0.68 annualized dividend and a yield of 2.0%. This is an increase from First Community’s previous quarterly dividend of $0.16. First Community’s dividend payout ratio is 25.37%.

Insider Transactions at First Community

In other First Community news, EVP Fred Joseph Deutsch sold 10,000 shares of First Community stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $34.52, for a total transaction of $345,200.00. Following the transaction, the executive vice president directly owned 18,468 shares of the company’s stock, valued at approximately $637,515.36. The trade was a 35.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on FCCO shares. Wall Street Zen raised shares of First Community from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a research note on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

First Community Profile

First Community Financial Corp. (NASDAQ: FCCO) is the bank holding company for First Community Bank, a full-service commercial bank headquartered in Bluefield, West Virginia. Through its subsidiary, the company delivers a comprehensive range of financial services to individuals, small businesses and larger commercial clients. Its operations are focused on community banking, with an emphasis on personalized relationship management and local decision-making.

The company’s core offerings include deposit products such as checking and savings accounts, certificates of deposit and money market accounts, as well as consumer and commercial lending solutions.