First Community Corporation (FCCO) Downgraded to Sell at Zacks Investment Research
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.
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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.
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