First Community Co. (NASDAQ:FCCO) Sees Significant Increase in Short Interest

First Community Co. (NASDAQ:FCCO - Get Free Report) was the target of a large 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. Based on an average daily volume of 51,100 shares, the days-to-cover ratio is currently 2.5 days. Approximately 1.8% of the shares of the company are sold short.

First Community Stock Performance

Shares of NASDAQ:FCCO remained flat at $23.80 during midday trading on Wednesday. The stock had a trading volume of 40,295 shares, compared to its average volume of 64,602. The company has a 50-day simple moving average of $25.05 and a two-hundred day simple moving average of $23.81. 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 $181.86 million, a P/E ratio of 13.15 and a beta of 0.42. 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.55 earnings per share (EPS) for the quarter, beating 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 prior year, the business earned $0.43 EPS. As a group, research analysts forecast that First Community will post 2.28 EPS for the current fiscal year.

First Community Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Tuesday, February 4th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Tuesday, February 4th. First Community's payout ratio is 33.15%.

Hedge Funds Weigh In On First Community

A number of hedge funds have recently made changes to their positions in FCCO. Global Retirement Partners LLC acquired a new stake in shares of First Community in the fourth quarter worth approximately $39,000. Cubist Systematic Strategies LLC boosted its stake in First Community by 63.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 6,369 shares of the bank's stock worth $153,000 after purchasing an additional 2,475 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of First Community during the fourth quarter worth $206,000. Wells Fargo & Company MN grew its holdings in shares of 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 buying an additional 7,557 shares in the last quarter. Finally, Barclays PLC raised its position in shares of First Community by 214.0% in the third quarter. Barclays PLC now owns 10,046 shares of the bank's stock valued at $215,000 after buying an additional 6,847 shares during the last quarter. Institutional investors and hedge funds own 61.25% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on FCCO shares. Hovde Group boosted their target price on shares of First Community from $28.00 to $29.00 and gave the company an "outperform" rating in a research note on Thursday, January 23rd. Raymond James raised shares of First Community from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $27.00 to $30.00 in a report on Thursday, January 23rd. Finally, Janney Montgomery Scott raised 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 note on Tuesday, February 4th.

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.