Abacus Planning Group Inc. Sells 2,333 Shares of First Community Co. (NASDAQ:FCCO)

Abacus Planning Group Inc. cut its stake in shares of First Community Co. (NASDAQ:FCCO) by 3.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,901 shares of the bank’s stock after selling 2,333 shares during the quarter. Abacus Planning Group Inc. owned approximately 0.82% of First Community worth $1,075,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of First Community by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 69,040 shares of the bank’s stock valued at $1,511,000 after buying an additional 704 shares during the last quarter. Hunter Perkins Capital Management LLC raised its holdings in shares of First Community by 0.3% in the first quarter. Hunter Perkins Capital Management LLC now owns 221,754 shares of the bank’s stock valued at $4,435,000 after buying an additional 708 shares during the last quarter. Cutler Capital Management LLC increased its position in First Community by 1.0% in the first quarter. Cutler Capital Management LLC now owns 76,500 shares of the bank’s stock worth $1,530,000 after purchasing an additional 733 shares during the period. Wellington Management Group LLP increased its position in First Community by 0.8% in the first quarter. Wellington Management Group LLP now owns 105,815 shares of the bank’s stock worth $2,116,000 after purchasing an additional 852 shares during the period. Finally, Ancora Advisors LLC increased its position in First Community by 3.5% in the first quarter. Ancora Advisors LLC now owns 34,991 shares of the bank’s stock worth $700,000 after purchasing an additional 1,170 shares during the period. 58.13% of the stock is owned by institutional investors.

First Community Price Performance

First Community stock opened at $17.42 on Friday. The firm has a market capitalization of $132.22 million, a P/E ratio of 9.03 and a beta of 0.57. First Community Co. has a 1 year low of $16.30 and a 1 year high of $22.25. The business has a 50-day moving average of $17.90 and a 200-day moving average of $18.42. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.89.

First Community (NASDAQ:FCCO) last posted its earnings results on Wednesday, July 19th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $20.55 million during the quarter, compared to analyst estimates of $14.68 million. First Community had a return on equity of 12.31% and a net margin of 20.36%. On average, equities analysts anticipate that First Community Co. will post 1.62 EPS for the current year.

First Community Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.14 per share. The ex-dividend date was Monday, July 31st. This represents a $0.56 annualized dividend and a dividend yield of 3.21%. First Community’s payout ratio is currently 29.02%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered First Community from a “hold” rating to a “sell” rating in a research report on Friday, August 25th.

First Community Company Profile

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, professionals, and individuals. The company operates through Commercial and Retail Banking, Mortgage Banking, and Investment Advisory and Non-Deposit segments.