Dernières nouvelles pour First Community (NASDAQ:FCCO) Stock

First Community

First Community Corp is a bank holding company, which provides commercial banking services. It is engaged in the general commercial and retail banking business characterized by personalized service and local decision making, emphasizing the banking needs of small to medium-sized businesses, professional concerns, and individuals. It operates through following segments: Commercial and Retail Banking; Mortgage Banking; Investment Advisory and Non-Deposit; and Corporate. It offers checking, savings, money market, individual retirement, and certificates of deposit accounts. Its lending lines include consumer loans, real estate loans, home improvement loans, home loans, flex loans, construction loans, agricultural loans, and others.

First Community Corporation - Common Stock

First Community Corp

First Community (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.45 per share. This compares to earnings of $0.23 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 11.11%. A quarter ago, it was expected that this holding company for First Community Bank would post earnings of $0.37 per share when it actually produced earnings of $0.42, delivering a surprise of 13.51%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
First Community, which belongs to the Zacks Banks - Southeast industry, posted revenues of $16.98 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.99%. This compares to year-ago revenues of $13.97 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
First Community shares have lost about 0.7% since the beginning of the year versus the S&amp;P 500&#39;s gain of 21.9%.
<h2>What&#39;s Next for First Community?</h2>
While First Community has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for First Community: favorable. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.49 on $16.85 million in revenues for the coming quarter and $1.69 on $65.05 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Southeast is currently in the bottom 34% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, National Bank Holdings (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nbhc#NYSE">NBHC</a>), is yet to report results for the quarter ended September 2024. The results are expected to be released on October 22.
This holding company for NBH Bank is expected to post quarterly earnings of $0.76 per share in its upcoming report, which represents a year-over-year change of -19.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
National Bank Holdings&#39; revenues are expected to be $102.32 million, down 4.5% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2351550/first-community-fcco-q3-earnings-and-revenues-beat-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2351550">To read this article on Zacks.com click here.</a>

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First Community Q3 Earnings and Revenues Beat Estimates

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) reported quarterly earnings of $0.50 per share which beat the analyst consensus estimate of $0.44 by 13.64 percent. This is a 117.39 percent increase over earnings of $0.23 per share from the same period last year. The company reported quarterly sales of $16.982 million which beat the analyst consensus estimate of $16.652 million by 1.98 percent. This is a 21.59 percent increase over sales of $13.967 million the same period last year.

Earnings Beats

First Community Q3 2024 GAAP EPS $0.50 Beats $0.44 Estimate, Sales $16.982M Beat $16.652M Estimate

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) is gearing up to announce its quarterly earnings on Wednesday, 2024-10-16. Here's a quick overview of what investors should know before the release.
Analysts are estimating that First Community will report an earnings per share (EPS) of $0.44.
Investors in First Community are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.
It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.
<h3>Performance in Previous Earnings</h3>
During the last quarter, the company reported an EPS beat by $0.06, leading to a 2.01% drop in the share price on the subsequent day.
Here's a look at First Community's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.36</td>
<td>0.34</td>
<td>0.37</td>
<td>0.38</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.42</td>
<td>0.34</td>
<td>0.43</td>
<td>0.23</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-2.0%</td>
<td>0.0%</td>
<td>4.0%</td>
<td>-1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729008044_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of First Community were trading at $21.3 as of October 14. Over the last 52-week period, shares are up 21.35%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/FCCO/earnings">To track all earnings releases for First Community visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

First Community Earnings Preview

The Bank of New York Mellon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) is scheduled to report third-quarter 2024 results on Oct. 11, before market open. The company&#39;s revenues and earnings are expected to have increased on a year-over-year basis.
In the last reported quarter, BK&#39;s earnings surpassed the Zacks Consensus Estimate. Results were primarily aided by a rise in fee revenues and lower expenses. The assets under custody and/or administration (AUC/A) and assets under management balances grew on a solid market rally. However, a decline in net interest revenues (NIR) acted as a headwind.
BNY Mellon has an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average beat of 9.92%.
<div class="chart_embed">
<h3>The Bank of New York Mellon Corporation Price and EPS Surprise</h3>
<img alt="The Bank of New York Mellon Corporation Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/17/1728394604.png" style="height:258px; width:527px" title="" />
The Bank of New York Mellon Corporation price-eps-surprise | The Bank of New York Mellon Corporation Quote
The consensus estimate for the company&#39;s third-quarter earnings is pegged at $1.40 per share, which has been revised marginally upward over the past seven days. This indicates a rise of 10.2% from the year-ago quarter&#39;s reported number.
The consensus estimate for sales is pegged at $4.52 billion, implying 3.3% growth.
</div>
<h2>Key Factors to Impact BK&#39;s Q3 Results</h2>
Fee Revenues: The Zacks Consensus Estimate for total investment services fees (comprising more than 50% of the company&#39;s total revenues) is pegged at $2.34 billion, suggesting a rise of 5% from the year-ago quarter. Our estimate for the same is $2.39 billion.
The consensus mark for financing-related fees stands at $52.5 million, which suggests a 16.6% year-over-year rise. Our estimate for financing-related fees is $55.9 million.
The consensus estimate for distribution and servicing fees is pegged at $41.7 million, implying a 6.8% increase. Our estimate for the same is pegged at $42.7 million.
In the third quarter, foreign exchange (FX) trading activity was driven by heightened market volatility and increased hedging demand amid global economic uncertainties. Nonetheless, the implementation of the rate cut weakened the dollar to some extent. Thus, increased FX trading volumes are likely to have had a modest impact on BNY Mellon&#39;s FX revenues. The consensus estimate for foreign exchange revenues is pegged at $179.6 million, suggesting a rise of 16.6%. Our estimate for the same is $165.5 million.
The consensus estimate for total fees and other revenues is $3.55 billion, suggesting a rise of 5.6%. We project the metric to be $3.59 billion.
Net Interest Revenues: On Sept. 18, the Federal Reserve implemented a 50-basis point rate cut for the first time since March 2020. Nonetheless, the impact on BK&#39;s NIR during the third quarter is unlikely to have been significant.
Further, the inverted yield curve for most of the quarter and high funding costs are expected to have weighed on interest income.
Yet, indications of future rate cuts by the Fed and a stabilizing macroeconomic backdrop are likely to have supported the overall lending scenario. Per the latest Fed data, overall loan demand remained decent for the first two months of the quarter.
The consensus mark for NIR is pegged at $967.8 million, indicating a 4.8% year-over-year decline. Our estimate for NIR is $898.3 million.
Expenses: Because of higher restructuring charges, BNY Mellon&#39;s expenses have been elevated over the past few years. Nevertheless, overall costs are expected to have been manageable in the quarter under review, given the elimination of unnecessary management layers.
Our estimate for non-interest expenses is $3.12 billion, suggesting a marginal year-over-year fall.
<h2>What the Zacks Model Unveils for BNY Mellon</h2>
According to our quantitative model, the chances of BNY Mellon beating the Zacks Consensus Estimate this time are high. This is because it has the right combination of the two key ingredients &mdash; a positive Earnings ESP and Zacks Rank #3 (Hold) or better.
Earnings ESP: The Earnings ESP for BNY Mellon is +0.14%.
Zacks Rank: The company currently carries a Zacks Rank #2 (Buy).
<h2>Other Bank Stocks That Warrant a Look</h2>
A couple of other bank stocks that have the right combination of elements to post an earnings beat in their upcoming releases are First Community Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) and 1st Source Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/srce#NASDAQ">SRCE</a>).
FCCO has an Earnings ESP of +1.12% and it carries a Zacks Rank of 2 at present. The company is slated to report third-quarter 2024 results on Oct. 16.
SRCE is scheduled to release third-quarter 2024 earnings on Oct. 24. The company, which sports a Zacks Rank of 1 (Strong Buy) at present, has an Earnings ESP of +4.80%.
<a href="https://www.zacks.com/stock/news/2347766/higher-fee-income-to-aid-bny-mellon-s-q3-earnings-subdued-nir-to-hurt?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2347766">To read this article on Zacks.com click here.</a>

Macro Economic Events

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SRCE

Higher Fee Income to Aid BNY Mellon's Q3 Earnings, Subdued NIR to Hurt

UMB Financial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/umbf#NASDAQ">UMBF</a>) is gaining from balance-sheet strength on the back of increasing loan and deposit balances. Also, steady capital distributions are backed by a decent liquidity position. However, intense competition, along with elevated expenses, are major headwinds.
UMB Financial has a healthy balance sheet position. The company witnessed impressive net loan growth in the last three years (2020-2023), with compounded annual growth rate (CAGR) of 13%. Also, deposits saw a CAGR of 9.8% in the same time frame. The rising trend continued for both metrics in the first half of 2024. The acquisition of Heartland Financial will add meaningful loans and deposit balance, thus fortifying UMB Financial&#39;s balance sheet. Also, the strong deposit and loan pipeline are likely to support the company&#39;s financials.
UMBF has been diversifying its operations into non-interest sources to reduce the company&#39;s exposure on spread income. Non-interest income saw a CAGR of 6.2% for the four-year period that ended in 2023, with the rising trend continuing in the first half of 2024. The company&#39;s investment in revenue-producing capabilities is likely to support top-line growth. Going forward, diverse lines of business and verticals will keep aiding UMB Financial&#39;s non-interest income (NII).
The company&#39;s NII witnessed a CAGR of 8.2% in the last four years (ended 2023), with the uptrend continuing in the first half of 2024. UMBF&#39;s decent loan demand will further support the metric growth in the upcoming period. With the Federal Reserve indicating a rate cut beginning September 2024, the company&#39;s NII is likely to benefit further as funding costs will be stabilized.
As of Jun 30, 2024, UMB Financial had debt (comprising short-term and long-term debt) of $1.68 billion. Cash and due from banks and interest-bearing due from banks were $5.1 billion as of the same date. UMBF seems to be well placed in terms of its liquidity profile and expected to continue meeting the company&#39;s debt obligations even if the economic situation worsens.
UMB Financial has been raising dividends annually regularly since 2002, with the latest hike of 2.6% announced in October 2023. Also, the bank has a share repurchase plan in place. In the first quarter of 2024, the company approved the repurchase of up to one million shares of its common stock. These can take place at any point in time until its termination, following the 2025 annual meeting of the company&#39;s shareholders. The company has not repurchased any of its common shares to date. Given solid liquidity and a favorable debt-to-equity ratio and payout rate compared with the broader industry, its capital-distribution activities seem sustainable.
UMB Financial&#39;s return on equity (ROE) reflects its growth potential. The company&#39;s ROE of 14.23% compares favorably with 10.94% of the industry, reflecting UMFB&#39;s efficiency in using its shareholders&#39; funds.
The bank currently carries a Zacks Rank #2 (Buy). In the past three months, shares of UMBF have gained 15.8% compared with the industry&#39;s growth of 7.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/cd/74754.jpg?v=1730101067" />
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for UMBF&#39;s current-year earnings has been revised upward in the past 30 days. This reflects that analysts are optimistic regarding its earnings growth potential.
Despite the above-mentioned tailwinds, cost escalation is the key concern for UMB Financial. The non-interest expenses flared up, seeing a CAGR of 6.4% in the last four years (2019-2023), with the trend continuing in the first half of 2024.
Though the company is focusing on improving its operating leverage, a rise in expenses based on higher salaries and employee benefits costs is likely to impede bottom-line growth in the upcoming period.
Additionally, the company faces intense competition in its business operations. The growing market share of FinTech companies and online service providers remains a key threat to traditional banks like UMB Financial. Also, these new entrants are not subject to the same level of regulations and supervision.
<h3>Other Stocks to Consider</h3>
A couple of other top-ranked finance stocks are First Community Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) and First Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fbnc#NASDAQ">FBNC</a>).
The consensus estimate for FCCO&#39;s current-year earnings has been revised 4.3% upward in the past 30 days. FCCO currently sports a Zacks Rank #1 (Strong Buy).
First Bancorp&#39;s current-year earnings estimate has been revised 11.3% upward in the past 30 days. FBNC currently carries a Zacks Rank #2.
<a href="https://www.zacks.com/stock/news/2324473/umb-financial-umbf-thrives-on-loan-growth-amid-rising-costs?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2324473">To read this article on Zacks.com click here.</a>

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UMBF

UMB Financial Thrives on Loan Growth Amid Rising Costs

Adding Synovus Financial Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snv#NYSE">SNV</a>) stock to your portfolio seems to be a wise idea now. Supported by strong fundamentals, the company is well poised for growth.
The Zacks Consensus Estimate for SNV&#39;s 2024 earnings has been revised 4.9% upward in the past 30 days, indicating that analysts are optimistic regarding its earnings growth potential. SNV currently carries a Zacks Rank #2 (Buy).
In the past six months, the stock has risen 19.1% compared with the industry&#39;s growth of 16.9%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/77/74497.jpg?v=1605080004" />
Image Source: Zacks Investment Research
Let&#39;s delve into the other factors that make SNV an attractive investment option now.
Earnings Growth: The company&#39;s earnings have witnessed growth of 9.3% in the last three to five years. For 2024, SNV&#39;s earnings are expected to decline 1.5%, while the same is projected to rise 16% in 2025.
Synergy from Merger &amp; Acquisitions: SNV has been investing through mergers and acquisitions to enhance its operations and fortify its footprint in various areas. On Jun 1, 2023, Synovus acquired a 60% equity interest in Qualpay &mdash; a cloud-based platform that combines a payment gateway with a robust merchant processing solution. In 2019, it completed the acquisition of FCB Financial Holdings. It looks forward to tapping similar opportunities in the future as well.
Balance Sheet Strength: Synovus&#39; total debt (comprising long-term debt and other short-term borrowings) was $2.28 billion as of Jun 30, 2024, and cash and cash equivalents were $2.29 billion. The company enjoys long-term issuer credit ratings of BBB- and BBB from Standard &amp; Poor&#39;s and Fitch, respectively. This will likely enable the company to access the debt market at favorable rates. Given the company&#39;s decent cash levels and access to debt markets, it is expected to continue meeting debt obligations, even if the economic situation worsens.
Solid Capital Distributions: Synovus has an impressive capital deployment plan. In January 2024, the bank was authorized to repurchase shares up to $300 million of common stock. As of Jun 30, 2024, approximately $179.3 million worth of buyback authorization remained available. In March 2023, the company announced a 12% hike in its quarterly dividend to 38 cents per share after a 3% increase in 2022 and a 10% hike in 2020. Given the company&#39;s strong balance sheet and liquidity position, the continuation of its sustainable capital distribution activities will drive investors&#39; confidence in the stock.
Superior Return on Equity (ROE): Synovus&#39; trailing 12-month return on equity (ROE) reflects its superior utilization of shareholders&#39; funds. The company&#39;s ROE of 12.76% compares favorably with the industry&#39;s 9.07%.
<h3>Other Stocks Worth Considering</h3>
A couple of other top-ranked stocks from the same space are First Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fbnc#NASDAQ">FBNC</a>) and First Community Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>), each currently carrying a Zacks Rank #2.
First Bancorp&#39;s current-year earnings estimates have been revised 11.3% upward in the past 30 days. FBNC shares have gained 18.5% over the past six months.
The consensus estimate for FCCO&#39;s current-year earnings has been revised 9.9% upward over the past 60 days. In the past six months, FCCO&#39;s shares have increased 24.6%.
<a href="https://www.zacks.com/stock/news/2323332/5-reasons-to-add-synovus-snv-stock-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2323332">To read this article on Zacks.com click here.</a>

5 Reasons to Add Synovus Stock to Your Portfolio Now

First Community (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) reported $16.34 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.5%. EPS of $0.42 for the same period compares to $0.43 a year ago.
The reported revenue represents a surprise of +5.94% over the Zacks Consensus Estimate of $15.42 million. With the consensus EPS estimate being $0.37, the EPS surprise was +13.51%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company&#39;s financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock&#39;s price performance.
Here is how First Community performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
<ul>
<li>Net Interest Margin (taxable equivalent): 2.9% versus 2.8% estimated by two analysts on average.</li>
<li>Efficiency Ratio: 72.8% versus the two-analyst average estimate of 73.7%.</li>
<li>Total Non-Interest Income: $3.64 million versus the two-analyst average estimate of $3.20 million.</li>
<li>Shares of First Community have returned +16.7% over the past month versus the Zacks S&amp;P 500 composite&#39;s +4.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.</li>
<li><a href="https://www.zacks.com/stock/news/2303587/first-community-fcco-reports-q2-earnings-what-key-metrics-have-to-say?cid=CS-BENZ-FT-fundamental_analysis|nfm-2303587">To read this article on Zacks.com click here.</a></li>
</ul>
&nbsp;

First Community Reports Q2 Earnings: What Key Metrics Have to Say

<ul>
<li>Increased cash dividend to $0.15 per common share, which is the 90th consecutive quarter of cash dividends paid to common shareholders.</li>
</ul>

First Community Increases Quarterly Dividend From $0.14 To $0.15 Per Share

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) reported quarterly earnings of $0.42 per share which beat the analyst consensus estimate of $0.36 by 16.67 percent. This is a 2.33 percent decrease over earnings of $0.43 per share from the same period last year. The company reported quarterly sales of $16.33 million which beat the analyst consensus estimate of $15.52 million by 5.22 percent. This is a 7.52 percent increase over sales of $15.19 million the same period last year.

First Community Q2 EPS $0.42 Beats $0.36 Estimate, Sales $16.33M Beat $15.52M Estimate

First Community's Assets Under Management (AUM) Reached $832.9M At March 31, 2024 Vs. $621.1M Last Year

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) reported quarterly earnings of $0.34 per share which met the analyst consensus estimate. This is a 24.44 percent decrease over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $15.26 million which beat the analyst consensus estimate of $14.74 million by 3.53 percent. This is a 2.20 percent increase over sales of $14.93 million the same period last year.

First Community Q1 EPS $0.34, Inline, Sales $15.26M Beat $14.74M Estimate

Friday marks the last chance for investors to receive the next dividend payout from First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>). 
<h3>What's Happening</h3>
The company announced on Wednesday that it would pay shareholders a quarterly dividend of 14 cents per share. On Monday, First Community will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 14 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own FCCO as of the end of Friday's session are eligible to receive the 14 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on February 20, 2024. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
To stay up-to-date with the companies that are announcing their dividends, <a href="https://www.benzinga.com/calendars/dividends">click here</a> to visit our Dividends Calendar.

Friday Is Your Last Chance To Buy First Community Before The Dividend Payout

Shares of First Community Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fcco#NASDAQ">FCCO</a>) rose in premarket trading on Thursday, after the company <a href="https://www.benzinga.com/insights/earnings/24/01/36758543/recap-first-community-q4-earnings">reported higher-than-expected fourth-quarter earnings</a>.
The Lexington, South Carolina-based company&rsquo;s earnings appear to be reaching a bottom. They should receive a boost from the Federal Reserve&rsquo;s upcoming rate cuts and &ldquo;organic growth from the bank&rsquo;s strong markets in South Carolina and Georgia,&quot; according to Raymond James.
The First Community Analyst: Steve Moss upgraded the rating for First Community from Market Perform to Outperform, while establishing a price target of $21.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
The First Community Thesis: The fourth-quarter earnings beat was driven by higher net interest income and fees as well as lower expenses, Moss said in the upgrade note.
First Community indicated that the loan pipeline softened during the fourth quarter, but &ldquo;that conversations with borrowers have picked up since the start of the year,&rdquo; the analyst wrote. &ldquo;FCCO expects mid-to-high single digit commercial loan growth in 2024, we model 8%,&rdquo; he added.
&ldquo;NPAs remained low at 8 bp of related assets as of 4Q23, and FCCO recorded a $1K net recovery,&rdquo; Moss said. He further stated that the loan loss reserve (LLR) ratio is likely to increase from 1.08% in the fourth quarter to 1.10% by yearend 2024.
FCCO Price Action: Shares of First Community had risen by 2.82% to $18.98 in the premarket session on Thursday.
Now Read: <a href="https://www.benzinga.com/economics/macro-economic-events/24/01/36779384/us-q4-economic-growth-hits-3-3-sharply-beats-estimates-thursdays-economic-digest">US Q4 Economic Growth Hits 3.3%, Sharply Beats Estimates - Thursday&#39;s Economic Digest</a>

Analyst Color

Upgrades

First Community Analyst Turns Bullish After Q4 Print: 'Conversations With Borrowers Picked Up'

Raymond James analyst Steve Moss upgrades First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) from Market Perform to Outperform and announces $21 price target.

Price Target

Raymond James Upgrades First Community to Outperform, Announces $21 Price Target

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) reported its Q4 earnings results on Wednesday, January 24, 2024 at 09:00 AM.
Here's what investors need to know about the announcement.
<h3>Earnings</h3>
First Community beat estimated earnings by 16.22%, reporting an EPS of $0.43 versus an estimate of $0.37.
Revenue was down $652 thousand from the same period last year.
<h3>Past Earnings Performance</h3>
Last quarter the company missed on EPS by $0.15 which was followed by a 1.4% drop in the share price the next day.
Here's a look at First Community's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.38</td>
<td>0.39</td>
<td>0.49</td>
<td>0.51</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.23</td>
<td>0.43</td>
<td>0.45</td>
<td>0.53</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>14.84M</td>
<td>14.73M</td>
<td>15.87M</td>
<td>15.85M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>13.97M</td>
<td>15.19M</td>
<td>14.93M</td>
<td>15.88M</td>
</tr>
</tbody>
</table>

To track all earnings releases for First Community <a href="https://www.benzinga.com/quote/FCCO/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Recap: First Community Q4 Earnings

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) reported quarterly earnings of $0.43 per share which beat the analyst consensus estimate of $0.37 by 16.22 percent. This is a 18.87 percent decrease over earnings of $0.53 per share from the same period last year.

First Community Q4 EPS $0.43 Beats $0.37 Estimate

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-01-24. Here's what investors need to know before the announcement.
Analysts estimate that First Community will report an earnings per share (EPS) of $0.37. 
First Community bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.15, which was followed by a 1.4% drop in the share price the next day.
Here's a look at First Community's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.38</td>
<td>0.39</td>
<td>0.49</td>
<td>0.51</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.23</td>
<td>0.43</td>
<td>0.45</td>
<td>0.53</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-1.4%</td>
<td>2.82%</td>
<td>-0.1%</td>
<td>-0.56%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1706036448_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of First Community were trading at $18.63 as of January 22. Over the last 52-week period, shares are down 10.07%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/FCCO/earnings">To track all earnings releases for First Community visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For First Community

Today, First Community Corporation (Nasdaq:&nbsp; FCCO), the holding company for First Community Bank, announced promotions and additions to its Executive Leadership Team.&nbsp; Effective July 1, 2024, J. Ted Nissen will become the CEO of First Community Bank while still retaining the role of President and will also be joining First Community's Board of Directors.&nbsp; Effective January 1, 2024, Joseph A. "Drew" Painter and Vaughan R. Dozier, Jr. will become Executive Vice Presidents in the roles of Co-Chief Commercial and Retail Banking Officers.&nbsp; Michael C. "Mike" Crapps will continue in his role as President and CEO of First Community Corporation.&nbsp;
In his role as CEO of the bank, Mr. Nissen will be responsible for the leadership of day-to-day operations of the bank including its mortgage and financial planning lines of business.&nbsp; In their roles as Co-Chief Commercial and Retail Banking Officers, Mr. Painter and Mr. Dozier will be responsible for leading First Community's network of banking offices.&nbsp; Mr. Crapps will continue to focus on board governance, investor relations, strategy development and growth decisions, client retention and prospecting, and leadership development.
Mr. Crapps commented on the changes, "We are excited about Ted's promotion to CEO of First Community Bank.&nbsp; He is a founding member of our Executive Leadership Team and understands our business and our culture at a deep level.&nbsp; Drew and Vaughan have been with our bank for twenty and fifteen years, respectively, each incredibly successful in their various roles with our bank, having most recently served as Regional Market Presidents.&nbsp; Each has also been recognized by the South Carolina Bankers Association as the Young Banker of the Year. These changes to our Executive Leadership Team will preserve our bank's culture and prepare for the long-term success and sustainability of our bank which will benefit us now and in the years ahead."&nbsp;

First Community Announces Leadership Moves; Effective July 1, 2024, J. Ted Nissen Will Become The CEO Of First Community Bank While Still Retaining The Role Of President

Friday marks the last chance for investors to receive the next dividend payout from First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>). 
<h3>What's Happening</h3>
The company announced on Wednesday that it would pay shareholders a quarterly dividend of 14 cents per share. On Monday, First Community will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 14 cents lower than it would have opened on any other day.
In order to be eligible to receive a company's dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Monday. Shareholders who own FCCO as of the end of Friday's session are eligible to receive the 14 cents dividend payout for every share that they own. 
According to the company, this dividend will be paid out to shareholders on November 14, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way. 
<a href="https://www.benzinga.com/quote/FCCO">Monitor live stock price updates for First Community on Benzinga.</a>

First Community: Dividend Insights

First Community (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCCO#NASDAQ">FCCO</a>) reported quarterly earnings of $0.23 per share which missed the analyst consensus estimate of $0.38 by 39.47 percent. This is a 55.77 percent decrease over earnings of $0.52 per share from the same period last year.

First Community Q3 EPS $0.23 Misses $0.38 Estimate

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First Community Corporation: A Strong Loan Book, But Earnings Are Under Pressure

An update from First Community (FCCO) is now available. First Community Corporation has announced that J. Ted Nissen will become CEO of First Commu...

First Community Appoints J. Ted Nissen as New CEO and Board Member

First Community GAAP EPS of $0.42 beats by $0.06, revenue of $16.33M beats by $0.81M

First Community raises quarterly dividend by 7.1% to  $0.15/share

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
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	The post <a href="https://investorplace.com/earning-results/2024/07/fcco-stock-earnings-first-community-for-q2-of-2024/">FCCO Stock Earnings: First Community Beats EPS, Beats Revenue for Q2 2024</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

FCCO Stock Earnings: First Community Beats EPS, Beats Revenue for Q2 2024

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