NasdaqCM:FCCO

Stock Analysis Report

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.

Snowflake

Flawless balance sheet with proven track record and pays a dividend.


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 has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.4%

FCCO

0.3%

US Banks

-0.2%

US Market


1 Year Return

-13.4%

FCCO

10.7%

US Banks

16.1%

US Market

Return vs Industry: FCCO underperformed the US Banks industry which returned 10.7% over the past year.

Return vs Market: FCCO underperformed the US Market which returned 16.1% over the past year.


Shareholder returns

FCCOIndustryMarket
7 Day-0.4%0.3%-0.2%
30 Day2.0%3.7%3.7%
90 Day11.3%18.8%8.5%
1 Year-11.4%-13.4%14.0%10.7%18.7%16.1%
3 Year32.8%25.4%37.2%27.6%46.9%37.4%
5 Year106.4%86.3%71.0%52.1%61.8%44.0%

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?

1.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FCCO ($20) is trading below our estimate of fair value ($20.23)

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 (13.8x) compared to the Banks industry average (12.6x).

PE vs Market: FCCO is good value based on its PE Ratio (13.8x) compared to the US market (18x).


Price to Earnings Growth Ratio

PEG Ratio: FCCO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FCCO is overvalued based on its PB Ratio (1.2x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is First Community forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

-0.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FCCO's earnings are forecast to decline over the next 3 years (-0.3% per year).

Earnings vs Market: FCCO's earnings are forecast to decline over the next 3 years (-0.3% per year).

High Growth Earnings: FCCO's earnings are forecast to decline over the next 3 years.

Revenue vs Market: FCCO's revenue (4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: FCCO's revenue (4% 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 (8.5%).


Next Steps

Past Performance

How has First Community performed over the past 5 years?

16.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FCCO has high quality earnings.

Growing Profit Margin: FCCO's current net profit margins (23%) are higher than last year (20.1%).


Past Earnings Growth Analysis

Earnings Trend: FCCO's earnings have grown by 16.1% per year over the past 5 years.

Accelerating Growth: FCCO's earnings growth over the past year (21.2%) exceeds its 5-year average (16.1% per year).

Earnings vs Industry: FCCO earnings growth over the past year (21.2%) underperformed the Banks industry 27.3%.


Return on Equity

High ROE: FCCO's Return on Equity (9.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

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

Inventory Level: FCCO has a low level of unsold assets or inventory.

Debt Coverage by Assets: FCCO's debt is not covered by short term assets (assets are 0.9x debt).


Financial Institutions Analysis

Asset Level: FCCO's level of assets compared to its equity is low.

Allowance for Bad Loans: FCCO has a sufficient allowance for bad loans.

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

Loan Level: FCCO has an acceptable proportion of non-loan assets held.

Low Risk Deposits: FCCO's loans are broadly funded by customer deposits.

Level of Bad Loans: FCCO has an appropriate level of bad loans (0.31%)


Next Steps

Dividend

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

2.20%

Current Dividend Yield


Dividend Yield vs Market

company2.2%marketbottom25%1.4%markettop25%3.7%industryaverage2.8%forecastin3Years2.4%

Current dividend yield vs market & industry

Notable Dividend: FCCO's dividend (2.2%) is higher than the bottom 25% of dividend payers in the US market (1.44%).

High Dividend: FCCO's dividend (2.2%) is low compared to the top 25% of dividend payers in the US market (3.69%).


Stability and Growth of Payments

Stable Dividend: FCCO's dividend payments have been volatile 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 (30.3%), 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 (35.1% payout ratio).


Next Steps

Management

What is the CEO of First Community's salary, the management and board of directors tenure and is there insider trading?

10.4yrs

Average management tenure


CEO

Mike Crapps (60yo)

25.8yrs

Tenure

US$706,641

Compensation

Mr. Michael C. Crapps, also known as Mike, has been the Chief Executive Officer, President, Director, Chief Executive Officer of First Community Bank, President of First Community Bank and Director of Firs ...


CEO Compensation Analysis

Compensation vs Market: Mike's total compensation ($USD706.64K) is above average for companies of similar size in the US market ($USD504.52K).

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


Management Age and Tenure

10.4yrs

Average Tenure

60yo

Average Age

Experienced Management: FCCO's management team is seasoned and experienced (10.4 years average tenure).


Board Age and Tenure

14.8yrs

Average Tenure

62yo

Average Age

Experienced Board: FCCO's board of directors are seasoned and experienced ( 14.8 years average tenure).


Insider Trading

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


Recent Insider Transactions

SellUS$74,06626 Jul 19
David Proctor
EntityIndividual
Shares3,888
Max PriceUS$19.05
BuyUS$14,79214 Jun 19
Jane Sosebee
EntityIndividual
Shares825
Max PriceUS$17.93

Ownership Breakdown

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


Management Team

  • Mike Crapps (60yo)

    CEO, President & Director

    • Tenure: 25.8yrs
    • Compensation: US$706.64k
  • Joe Sawyer (68yo)

    Executive VP & CFO

    • Tenure: 24.8yrs
    • Compensation: US$292.76k
  • Steve Sligh (70yo)

    Consultant

    • Tenure: 14.1yrs
    • Compensation: US$147.88k
  • John Nissen (57yo)

    Executive VP and Chief Commercial & Retail Banking Officer

    • Tenure: 0yrs
    • Compensation: US$373.61k
  • Tanya Butts (60yo)

    Executive VP

    • Tenure: 2.8yrs
  • Robin Brown (51yo)

    Executive VP and Chief Human Resources & Marketing Officer

    • Tenure: 6.8yrs
    • Compensation: US$259.10k
  • Shawn Jordan

    Executive Officer

    • Tenure: 0yrs
  • Jack Walker

    Executive VP & Chief Credit Officer

    • Tenure: 0.8yrs

Board Members

  • Mike Crapps (60yo)

    CEO, President & Director

    • Tenure: 25.8yrs
    • Compensation: US$706.64k
  • Mitch Willoughby (71yo)

    Chairman of the Board

    • Tenure: 10.5yrs
    • Compensation: US$35.05k
  • Thomas Brown (61yo)

    Independent Director

    • Tenure: 25.8yrs
    • Compensation: US$26.78k
  • Chimin Chao (63yo)

    Independent Director

    • Tenure: 25.8yrs
    • Compensation: US$31.30k
  • Tommy Johnson (72yo)

    Vice Chairman of the Board

    • Tenure: 15.1yrs
    • Compensation: US$57.90k
  • Ed Tarver (59yo)

    Director

    • Tenure: 2.5yrs
    • Compensation: US$23.66k
  • W. Kitchens (57yo)

    Independent Director

    • Tenure: 25.8yrs
    • Compensation: US$31.50k
  • Rick Todd (55yo)

    Independent Director

    • Tenure: 13.4yrs
    • Compensation: US$31.40k
  • Alex Snipe (68yo)

    Independent Director

    • Tenure: 14.5yrs
    • Compensation: US$29.90k
  • E. Reynolds (64yo)

    Director

    • Tenure: 5.8yrs
    • Compensation: US$29.90k

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: 1995
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$148.895m
  • Shares outstanding: 7.42m
  • Website: https://www.firstcommunitysc.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FCCONasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDJul 1998

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 Analysis2019/11/21 23:36
End of Day Share Price2019/11/21 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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.