NasdaqCM:FCCO

Stock Analysis Report

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Market Cap

US$153.1m

Last Updated

2021/06/19 22:26 UTC

Data Sources

Company Financials +

Executive Summary

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, professional concerns, and individuals. More Details


Snowflake Analysis

Flawless balance sheet established dividend payer.


Similar Companies

Share Price & News

How has First Community's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FCCO is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: FCCO's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

0.9%

FCCO

-7.6%

US Banks

-1.9%

US Market


1 Year Return

33.8%

FCCO

50.6%

US Banks

38.2%

US Market

Return vs Industry: FCCO underperformed the US Banks industry which returned 55.4% over the past year.

Return vs Market: FCCO underperformed the US Market which returned 39.4% over the past year.


Shareholder returns

FCCOIndustryMarket
7 Day0.9%-7.6%-1.9%
30 Day1.8%-8.3%1.1%
90 Day-3.5%-3.7%4.3%
1 Year38.0%33.8%55.0%50.6%40.4%38.2%
3 Year-10.5%-17.0%21.2%10.8%57.5%47.8%
5 Year57.1%40.4%106.1%80.0%127.2%101.7%

Long-Term Price Volatility Vs. Market

How volatile is First Community's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Community undervalued compared to its fair value and its price relative to the market?

17.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FCCO ($20.34) is trading below our estimate of fair value ($24.55)

Significantly Below Fair Value: FCCO is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FCCO is poor value based on its PE Ratio (13.1x) compared to the US Banks industry average (12x).

PE vs Market: FCCO is good value based on its PE Ratio (13.1x) compared to the US market (19.4x).


Price to Earnings Growth Ratio

PEG Ratio: FCCO is poor value based on its PEG Ratio (3.9x)


Price to Book Ratio

PB vs Industry: FCCO's PB Ratio (1.2x) is in line with the US Banks industry average.


Future Growth

How is First Community forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

3.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FCCO's forecast earnings growth (3.4% per year) is above the savings rate (2%).

Earnings vs Market: FCCO's earnings (3.4% per year) are forecast to grow slower than the US market (15.7% per year).

High Growth Earnings: FCCO's earnings are forecast to grow, but not significantly.

Revenue vs Market: FCCO's revenue (5% per year) is forecast to grow slower than the US market (9.4% per year).

High Growth Revenue: FCCO's revenue (5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FCCO's Return on Equity is forecast to be low in 3 years time (9.5%).


Past Performance

How has First Community performed over the past 5 years?

12.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FCCO has high quality earnings.

Growing Profit Margin: FCCO's current net profit margins (22.1%) are higher than last year (21.3%).


Past Earnings Growth Analysis

Earnings Trend: FCCO's earnings have grown by 12.7% per year over the past 5 years.

Accelerating Growth: FCCO's earnings growth over the past year (12.6%) is below its 5-year average (12.7% per year).

Earnings vs Industry: FCCO earnings growth over the past year (12.6%) underperformed the Banks industry 20.7%.


Return on Equity

High ROE: FCCO's Return on Equity (8.7%) is considered low.


Financial Health

How is First Community's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: FCCO's Assets to Equity ratio (11.2x) is moderate.

Allowance for Bad Loans: FCCO has a sufficient allowance for bad loans (234%).

Low Risk Liabilities: 94% of FCCO's liabilities are made up of primarily low risk sources of funding.

Loan Level: FCCO has an appropriate level of Loans to Assets ratio (58%).

Low Risk Deposits: FCCO's Loans to Deposits ratio (68%) is appropriate.

Level of Bad Loans: FCCO has an appropriate level of bad loans (0.5%).


Dividend

What is First Community current dividend yield, its reliability and sustainability?

2.36%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FCCO's dividend (2.36%) is higher than the bottom 25% of dividend payers in the US market (1.29%).

High Dividend: FCCO's dividend (2.36%) is low compared to the top 25% of dividend payers in the US market (3.43%).


Stability and Growth of Payments

Stable Dividend: FCCO's dividends per share have been stable in the past 10 years.

Growing Dividend: FCCO's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (31%), FCCO's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FCCO's dividends in 3 years are forecast to be well covered by earnings (26.2% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.4yrs

Average management tenure


CEO

Mike Crapps (61 yo)

27.42yrs

Tenure

US$848,781

Compensation

Mr. Michael C. Crapps, also known as Mike, serves as Chief Executive Officer at First Community Corporation since 2021 and served as its Director until 2021. Mr. Crapps serves as Chief Executive Officer at...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD848.78K) is about average for companies of similar size in the US market ($USD1.06M).

Compensation vs Earnings: Mike's compensation has increased by more than 20% in the past year.


Leadership Team

Experienced Management: FCCO's management team is considered experienced (4.4 years average tenure).


Board Members

Experienced Board: FCCO's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

First Community Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Community Corporation
  • Ticker: FCCO
  • Exchange: NasdaqCM
  • Founded: 1994
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$153.057m
  • Shares outstanding: 7.52m
  • Website: https://www.firstcommunitysc.com

Number of Employees


Location

  • First Community Corporation
  • 5455 Sunset Boulevard
  • Lexington
  • South Carolina
  • 29072
  • United States

Listings


Biography

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, profe...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/06/19 22:26
End of Day Share Price2021/06/18 00:00
Earnings2021/03/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.