Zacks Investment Research Upgrades First Community Corporation (FCCO) to “Hold”
First Community Corporation (NASDAQ:FCCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “First Community Corp presently engages in no business other than owning and managing the First Community Bank. The bank is engaged in a general commercial and retail banking business, emphasizing the needs of small-to-medium sized businesses, professional concerns and individuals, primarily in Richland and Lexington counties of South Carolina and the surrounding area. “
Separately, ValuEngine raised First Community Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 2nd.
First Community Corporation (NASDAQ:FCCO) traded up 4.83% during mid-day trading on Friday, hitting $20.60. 11,830 shares of the company were exchanged. The stock’s 50 day moving average is $20.76 and its 200-day moving average is $20.84. The company has a market cap of $137.96 million, a price-to-earnings ratio of 20.40 and a beta of 0.81. First Community Corporation has a 12-month low of $14.80 and a 12-month high of $23.55.
First Community Corporation (NASDAQ:FCCO) last posted its quarterly earnings results on Wednesday, July 19th. The bank reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). First Community Corporation had a return on equity of 8.24% and a net margin of 17.39%. The business had revenue of $9.69 million for the quarter, compared to analyst estimates of $9.42 million. Equities research analysts predict that First Community Corporation will post $0.98 EPS for the current year.
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In related news, Director George H. Fann, Jr. acquired 5,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was bought at an average cost of $20.55 per share, with a total value of $102,750.00. Following the completion of the acquisition, the director now owns 84,616 shares in the company, valued at $1,738,858.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. ClariVest Asset Management LLC bought a new position in shares of First Community Corporation during the first quarter valued at $110,000. Stratos Wealth Partners LTD. bought a new position in shares of First Community Corporation during the first quarter valued at $226,000. Stifel Financial Corp lifted its holdings in shares of First Community Corporation by 26.4% during the first quarter. Stifel Financial Corp now owns 18,906 shares of the bank’s stock valued at $416,000 after acquiring an additional 3,946 shares during the period. Geode Capital Management LLC bought a new position in shares of First Community Corporation during the first quarter valued at $1,146,000. Finally, Janus Henderson Group PLC bought a new position in shares of First Community Corporation during the second quarter valued at $1,141,000. 47.13% of the stock is owned by institutional investors.
About First Community Corporation
First Community Corporation is a bank holding company for First Community Bank (the Bank). The Bank offers commercial and retail banking services to small-to-medium sized businesses, professional concerns and individuals, primarily in Richland, Lexington, Kershaw and Newberry Counties of South Carolina and the surrounding areas.
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