First Community Corporation (NASDAQ:FCCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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 research report on Friday, September 1st.

First Community Corporation (NASDAQ FCCO) traded down 0.24% during mid-day trading on Friday, reaching $20.95. The company had a trading volume of 210 shares. The stock’s 50-day moving average price is $20.65 and its 200 day moving average price is $20.82. The firm has a market capitalization of $140.30 million, a PE ratio of 20.74 and a beta of 0.81. First Community Corporation has a 52 week low of $14.80 and a 52 week high of $23.55.

First Community Corporation (NASDAQ:FCCO) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.24 EPS 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 firm had revenue of $9.69 million for the quarter, compared to analyst estimates of $9.42 million. On average, equities research analysts predict that First Community Corporation will post $1.00 EPS for the current year.

TRADEMARK VIOLATION WARNING: This news story was published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/06/first-community-corporation-fcco-downgraded-to-sell-at-zacks-investment-research.html.

In other news, Director George H. Fann, Jr. purchased 5,000 shares of the stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $20.55 per share, with a total value of $102,750.00. Following the transaction, the director now owns 84,616 shares in the company, valued at approximately $1,738,858.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George H. Fann, Jr. purchased 1,903 shares of the stock in a transaction on Thursday, September 21st. The shares were purchased at an average cost of $20.35 per share, with a total value of $38,726.05. Following the transaction, the director now owns 86,519 shares in the company, valued at approximately $1,760,661.65. The disclosure for this purchase can be found here. Insiders own 8.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FCCO. ClariVest Asset Management LLC purchased a new position in shares of First Community Corporation during the 1st quarter valued at about $110,000. Stifel Financial Corp raised its stake in shares of First Community Corporation by 2.1% during the 2nd quarter. Stifel Financial Corp now owns 19,312 shares of the bank’s stock valued at $406,000 after buying an additional 406 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of First Community Corporation during the 2nd quarter valued at about $1,141,000. Geode Capital Management LLC purchased a new position in shares of First Community Corporation during the 1st quarter valued at about $1,146,000. Finally, Mendon Capital Advisors Corp raised its stake in shares of First Community Corporation by 31.0% during the 1st quarter. Mendon Capital Advisors Corp now owns 292,490 shares of the bank’s stock valued at $6,434,000 after buying an additional 69,219 shares during the last quarter. Institutional investors and hedge funds own 47.13% of the company’s stock.

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.

Get a free copy of the Zacks research report on First Community Corporation (FCCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First Community Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Community Corporation and related companies with MarketBeat.com's FREE daily email newsletter.