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Recent Price Trend in First Community (FCCO) is Your Friend, Here's Why
ZACKS· 2025-08-20 13:50
Most of us have heard the dictum "the trend is your friend." And this is undeniably the key to success when it comes to short-term investing or trading. But it isn't easy to ensure the sustainability of a trend and profit from it.Often, the direction of a stock's price movement reverses quickly after taking a position in it, making investors incur a short-term capital loss. So, it's important to ensure that there are enough factors -- such as sound fundamentals, positive earnings estimate revisions, etc. -- ...
First munity (FCCO) - 2025 Q2 - Quarterly Report
2025-08-08 18:19
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) Commission File Number: 000-28344 FIRST COMMUNITY CORPORATION (Exact name of registrant as specified in its charter) South Carolina 57-1010751 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 5455 Sunset Boulevard, Lexington, South Carolina 29072 (Address of principal executive offices) (Zip Code) (803) 951-2265 (Registrant's telephone number, including area code) N ...
First Community (FCCO) Upgraded to Strong Buy: Here's What You Should Know
ZACKS· 2025-07-28 17:01
Investors might want to bet on First Community (FCCO) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Since a changi ...
First munity (FCCO) - 2025 Q2 - Quarterly Results
2025-07-23 20:24
Highlights for Second Quarter of 2025 · Net income of $5.186 million during the second quarter of 2025, an increase of 29.7% on a linked quarter basis, and 58.8% year-over-year. · Net income for the six months ended June 30, 2025 of $9.183 million, a 56.7% increase over the same time period in 2024. · Diluted EPS of $0.67 per common share for the second quarter of 2025, an increase of 31.4% on a linked quarter basis and 59.5% year-over-year. · Diluted EPS of $1.18 per common share for the six months ended J ...
Compared to Estimates, First Community (FCCO) Q2 Earnings: A Look at Key Metrics
ZACKS· 2025-07-23 15:30
For the quarter ended June 2025, First Community (FCCO) reported revenue of $19.53 million, up 19.5% over the same period last year. EPS came in at $0.67, compared to $0.42 in the year-ago quarter.The reported revenue represents a surprise of +4.41% over the Zacks Consensus Estimate of $18.71 million. With the consensus EPS estimate being $0.58, the EPS surprise was +15.52%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...
First Community (FCCO) Tops Q2 Earnings and Revenue Estimates
ZACKS· 2025-07-23 15:11
First Community (FCCO) came out with quarterly earnings of $0.67 per share, beating the Zacks Consensus Estimate of $0.58 per share. This compares to earnings of $0.42 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +15.52%. A quarter ago, it was expected that this holding company for First Community Bank would post earnings of $0.47 per share when it actually produced earnings of $0.51, delivering a surprise of +8.51%.Over th ...
First Community Corporation Announces Record Earnings and Increased Cash Dividend
Prnewswire· 2025-07-23 13:00
Core Points - First Community Corporation reported a net income of $5.186 million for Q2 2025, a 29.7% increase from Q1 2025 and a 58.8% increase year-over-year [2][8] - Diluted earnings per share (EPS) for Q2 2025 were $0.67, up 31.4% from Q1 2025 and 59.5% from Q2 2024 [2][8] - The company announced a cash dividend of $0.16 per share, marking the 94th consecutive quarter of dividends [4][8] Financial Performance - Year-to-date net income through June 30, 2025, was $9.183 million, a 56.7% increase compared to the same period in 2024 [3][8] - Net interest income for Q2 2025 was $15.3 million, compared to $14.4 million in Q1 2025 and $12.7 million in Q2 2024 [12][27] - Non-interest income for Q2 2025 was $4.206 million, an increase of 5.6% from Q1 2025 and 15.5% from Q2 2024 [14][27] Asset Quality - The non-performing assets ratio was 0.02% as of June 30, 2025, with non-accrual loans totaling $210 thousand [6][8] - The allowance for credit losses (ACL) on loans decreased to 1.06% from 1.09% in Q1 2025 [7][8] Balance Sheet - Total loans increased by $8.1 million in Q2 2025, reflecting an annualized growth rate of 2.6% [8][9] - Total deposits reached $1.754 billion, with customer deposits growing by $28.3 million during Q2 2025, a 6.6% annualized growth rate [9][10] - The company's tangible book value per share increased to $18.28 as of June 30, 2025, from $17.56 at the end of Q1 2025 [5][8] Capital Management - The company’s regulatory capital ratios exceeded the well-capitalized minimum levels, with a Tier 1 capital ratio of 13.04% as of June 30, 2025 [4][8] - A share repurchase plan of up to $7.5 million was approved, representing approximately 5.0% of total shareholders' equity as of March 31, 2025 [4][8] Strategic Initiatives - The company announced an agreement to acquire Signature Bank of Georgia, expected to close in early Q1 2026 [19][8] - This acquisition aims to expand the company's presence in the Atlanta area and add an SBA lending line of business [19][8]
Wall Street Analysts See a 25.14% Upside in First Community (FCCO): Can the Stock Really Move This High?
ZACKS· 2025-05-22 14:55
Group 1 - First Community (FCCO) shares have increased by 0.6% over the past four weeks, closing at $23.71, with a mean price target of $29.67 indicating a potential upside of 25.1% [1] - The average price target consists of three estimates ranging from $29 to $30, with a standard deviation of $0.58, suggesting a strong agreement among analysts [2] - Analysts show a positive trend in earnings estimate revisions for FCCO, with two estimates moving higher in the last 30 days and no negative revisions, leading to a 3.1% increase in the Zacks Consensus Estimate [12] Group 2 - FCCO holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating strong potential for upside [13] - While price targets are often viewed as unreliable indicators, the direction implied by the consensus price target for FCCO appears to be a useful guide for potential price movement [10][11]
First munity (FCCO) - 2025 Q1 - Quarterly Report
2025-05-09 16:24
Financial Performance - Net income for the three months ended March 31, 2025, increased by $1.4 million to $4.0 million, or $0.51 diluted earnings per share, compared to $2.6 million, or $0.34 diluted earnings per share, for the same period in 2024[105]. - Total non-interest income increased by $798,000, primarily due to a $334,000 rise in mortgage banking income and a $448,000 increase in investment advisory fees and non-deposit commissions[105]. - Non-interest income increased by $798,000 to $4.0 million for the three months ended March 31, 2025, from $3.2 million during the same period in 2024[118]. - Total non-interest expense increased by $949,000, mainly due to a $556,000 rise in salaries and employee benefits and a $376,000 increase in other non-interest expenses[105]. - Non-interest expense increased by $949,000 to $12.8 million for the three months ended March 31, 2025, compared to $11.8 million for the same period in 2024[123]. Interest Income and Assets - Net interest income rose by $2.3 million, driven by a $126.0 million increase in average earning assets and a 0.34% increase in net interest margin[105]. - Net interest income increased by $2.3 million, or 19.2%, to $14.4 million for the three months ended March 31, 2025, compared to $12.1 million for the same period in 2024[107]. - Average earning assets were $1.9 billion for the three months ended March 31, 2025, compared to $1.7 billion in the same period of 2024[107]. - The yield on loans increased by 27 basis points to 5.71% during the three months ended March 31, 2025, from 5.44% during the same period in 2024[108]. - The net interest margin improved by 34 basis points to 3.12% during the three months ended March 31, 2025, compared to 2.78% during the same period in 2024[107]. Credit Losses and Provisions - Provision for credit losses for the three months ended March 31, 2025, was $437,000, reflecting a $473,000 increase in the allowance for credit losses on loans[105]. - The company experienced a $308,000 increase in provision for credit losses compared to the previous year[105]. - The allowance for credit losses on loans increased due to a $31.4 million rise in loans held-for-sale during the three months ended March 31, 2025[105]. - The total allowance for credit losses increased to $13.6 million as of March 31, 2025, from $13.1 million at December 31, 2024[130]. - The company incurred a provision for credit losses of $462,000 for loans during the three months ended March 31, 2025, compared to $214,000 for the same period in 2024[129]. Tax and Regulatory Compliance - The effective tax rate for the three months ended March 31, 2025, was 22.85%, compared to 21.94% for the same period in 2024[105]. - The bank is required to maintain a Common Equity Tier 1 capital ratio of 7.0%, a Tier 1 capital ratio of 8.5%, and a total capital ratio of 10.5% under Basel III regulations[183]. - Common Equity Tier 1 capital ratio stands at 12.90%, significantly above the required 4.5%[185]. - Total capital ratio is reported at 13.99%, exceeding the minimum requirement of 8%[189]. - The leverage ratio is 8.45%, well above the required 4%[189]. Shareholder Equity and Dividends - Total shareholders' equity increased by $5.5 million, or 3.8%, to $150.0 million as of March 31, 2025, from $144.5 million at December 31, 2024[165]. - The increase in shareholders' equity was attributed to a $2.9 million rise in retained earnings from $4.0 million net income, less $1.1 million in dividends, and a $2.5 million improvement in accumulated other comprehensive loss[165]. - A cash dividend of $0.15 per common share has been approved for Q1 2025, payable on May 20, 2025[191]. Loan and Deposit Growth - Average loans increased by $90.0 million, or 7.8%, to $1.2 billion for the three months ended March 31, 2025, from $1.1 billion during the same period in 2024[108]. - Total assets increased by $81.4 million, or 4.2%, to $2.0 billion at March 31, 2025, primarily due to increases in interest-bearing bank balances and loans held-for-investment[139]. - Total deposits increased by $49.8 million, or 3.0%, to $1.7 billion at March 31, 2025[157]. - Pure deposits increased by $38.6 million, or 2.8%, to $1.41 billion at March 31, 2025[157]. - Demand deposit accounts accounted for 27.2% of total deposits, with an amount of $468.9 million as of March 31, 2025[160]. Market and Economic Conditions - The target range of federal funds was reduced to 4.25% - 4.50% at March 31, 2025, down from 5.25% - 5.50% at March 31, 2024[100]. - The company is liability sensitive, with projected declines in net interest income of -16.18% and -13.27% for +400 basis points change in interest rates at March 31, 2025, and December 31, 2024, respectively[172]. - The bank's capital ratios could be adversely impacted by future credit losses related to an economic recession[189].
Wall Street Analysts Think First Community (FCCO) Could Surge 25.19%: Read This Before Placing a Bet
ZACKS· 2025-04-29 14:55
Group 1 - First Community (FCCO) shares have increased by 5.1% over the past four weeks, closing at $23.70, with a mean price target of $29.67 indicating a potential upside of 25.2% [1] - The average price targets range from a low of $29 to a high of $30, with a standard deviation of $0.58, suggesting a relatively high agreement among analysts [2] - Analysts are optimistic about FCCO's earnings prospects, as indicated by a positive trend in earnings estimate revisions, which has historically correlated with stock price movements [4][11] Group 2 - The Zacks Consensus Estimate for the current year has increased by 1.1% over the past month, with one estimate rising and no negative revisions [12] - FCCO holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating strong potential for upside [13] - While consensus price targets may not be entirely reliable, the direction they imply appears to be a good guide for potential price movement [13]