NasdaqCM:FCCO

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

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 +/- 7% a week.

Volatility Over Time: FCCO's weekly volatility (7%) has been stable over the past year.


Market Performance


7 Day Return

4.4%

FCCO

6.0%

US Banks

2.8%

US Market


1 Year Return

-15.1%

FCCO

-17.4%

US Banks

20.9%

US Market

Return vs Industry: FCCO exceeded the US Banks industry which returned -17.4% over the past year.

Return vs Market: FCCO underperformed the US Market which returned 20.9% over the past year.


Shareholder returns

FCCOIndustryMarket
7 Day4.4%6.0%2.8%
30 Day22.7%23.6%11.1%
90 Day37.5%17.6%6.5%
1 Year-12.4%-15.1%-14.3%-17.4%23.6%20.9%
3 Year-23.3%-28.5%-3.9%-11.9%47.3%37.6%
5 Year43.2%28.2%35.9%18.9%94.3%72.9%

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?

13.84x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FCCO ($17.44) is trading above our estimate of fair value ($11.86)

Significantly Below Fair Value: FCCO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: FCCO is poor value based on its PE Ratio (13.8x) compared to the US Banks industry average (11.4x).

PE vs Market: FCCO is good value based on its PE Ratio (13.8x) compared to the US market (19.7x).


Price to Earnings Growth Ratio

PEG Ratio: FCCO is poor value based on its PEG Ratio (5x)


Price to Book Ratio

PB vs Industry: FCCO's PB Ratio (1x) is in line with the US Banks industry average.


Next Steps

Future Growth

How is First Community forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

2.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FCCO's forecast earnings growth (2.8% per year) is above the savings rate (2.2%).

Earnings vs Market: FCCO's earnings (2.8% per year) are forecast to grow slower than the US market (22% per year).

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

Revenue vs Market: FCCO's revenue (3.2% per year) is forecast to grow slower than the US market (10.3% per year).

High Growth Revenue: FCCO's revenue (3.2% 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 (7.1%).


Next Steps

Past Performance

How has First Community performed over the past 5 years?

13.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FCCO has a high level of non-cash earnings.

Growing Profit Margin: FCCO's current net profit margins (19.3%) are lower than last year (23%).


Past Earnings Growth Analysis

Earnings Trend: FCCO's earnings have grown by 13.4% per year over the past 5 years.

Accelerating Growth: FCCO's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FCCO had negative earnings growth (-14.6%) over the past year, making it difficult to compare to the Banks industry average (-4.1%).


Return on Equity

High ROE: FCCO's Return on Equity (7%) is considered low.


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


Financial Institutions Analysis

Asset Level: FCCO's Assets to Equity ratio (10.4x) is moderate.

Allowance for Bad Loans: FCCO has a sufficient allowance for bad loans (598%).

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 (60%).

Low Risk Deposits: FCCO's Loans to Deposits ratio (71%) is appropriate.

Level of Bad Loans: FCCO has an appropriate level of bad loans (0.2%).


Next Steps

Dividend

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

2.75%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FCCO's dividend (2.75%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: FCCO's dividend (2.75%) is low compared to the top 25% of dividend payers in the US market (4.08%).


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 (38.1%), 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 (38.5% payout ratio).


Next Steps

Management

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

5.8yrs

Average management tenure


CEO

Mike Crapps (61 yo)

26.83yrs

Tenure

US$672,107

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 ($USD672.11K) is about average for companies of similar size in the US market ($USD561.84K).

Compensation vs Earnings: Mike's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Michael Crapps
CEO, President & Director26.83yrsUS$672.11k1.03%
$ 1.3m
John Nissen
Executive VP and Chief Commercial & Retail Banking Officerno dataUS$362.03k0.37%
$ 489.7k
Donald Jordan
Executive VP & CFO0.83yrno data0.052%
$ 68.2k
Tanya Butts
Executive VP3.83yrsno data0.067%
$ 87.9k
Robin Brown
Executive VP and Chief Human Resources & Marketing Officer7.67yrsUS$259.10k0.23%
$ 303.6k
John Walker
Executive VP & Chief Credit Officer1.83yrsno data0.0076%
$ 10.0k
Steve Sligh
Consultant15.08yrsUS$147.88kno data
Susan Boatwright
Vice President/Human Resources Managerno datano datano data

5.8yrs

Average Tenure

58yo

Average Age

Experienced Management: FCCO's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michael Crapps
CEO, President & Director26.83yrsUS$672.11k1.03%
$ 1.3m
Thomas Brown
Independent Director26.83yrsUS$30.10k0.41%
$ 531.2k
Chimin Chao
Independent Vice Chairman0.50yrUS$34.50k0.51%
$ 668.6k
James Johnson
Independent Chairman0.50yrUS$60.80k0.43%
$ 564.2k
Edward Tarver
Independent Director3.5yrsUS$27.70k0.016%
$ 21.3k
W. Kitchens
Independent Director26.83yrsUS$30.50k0.29%
$ 379.4k
Roderick Todd
Independent Director14.42yrsUS$30.80k0.12%
$ 154.7k
Alexander Snipe
Independent Director15.5yrsUS$32.50k0.055%
$ 71.5k
Jane Sosebee
Independent Director1.5yrsUS$12.98k0.026%
$ 34.2k
E. Reynolds
Director6.67yrsUS$29.90k0.31%
$ 401.2k
Mickey Layden
Independent Director1.5yrsUS$14.98k0.035%
$ 46.1k

6.7yrs

Average Tenure

63yo

Average Age

Experienced Board: FCCO's board of directors are considered experienced (6.7 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: FCCO 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: 1995
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$130.676m
  • Shares outstanding: 7.49m
  • 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 Analysis2020/11/29 23:16
End of Day Share Price2020/11/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.