First Community Corporation (FCCO) Lifted to Hold at Zacks Investment Research
First Community Corporation (NASDAQ:FCCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 upgraded First Community Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.
Shares of First Community Corporation (NASDAQ:FCCO) traded down 3.17% during mid-day trading on Friday, hitting $21.35. The stock had a trading volume of 904 shares. The firm has a market capitalization of $142.98 million, a PE ratio of 21.14 and a beta of 0.81. First Community Corporation has a 1-year low of $14.80 and a 1-year high of $23.55. The stock’s 50-day moving average is $20.88 and its 200-day moving average is $20.77.
First Community Corporation (NASDAQ:FCCO) last issued its quarterly earnings data on Wednesday, October 18th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). First Community Corporation had a return on equity of 8.52% and a net margin of 17.69%. The company had revenue of $9.65 million for the quarter, compared to the consensus estimate of $9.79 million. Equities analysts expect that First Community Corporation will post $1.01 earnings per share for the current year.
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In other First Community Corporation news, Director George H. Fann, Jr. bought 1,903 shares of the stock in a transaction on Thursday, September 21st. The stock was acquired at an average cost of $20.35 per share, for a total transaction of $38,726.05. Following the completion of the acquisition, the director now owns 86,519 shares in the company, valued at approximately $1,760,661.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George H. Fann, Jr. bought 5,000 shares of the stock in a transaction on Thursday, August 17th. The stock was acquired at an average price 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 of the company’s stock, valued at approximately $1,738,858.80. The disclosure for this purchase can be found here. 8.60% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the business. Stifel Financial Corp increased its holdings in First Community Corporation by 2.1% in the second quarter. Stifel Financial Corp now owns 19,312 shares of the bank’s stock worth $406,000 after purchasing an additional 406 shares in the last quarter. Janus Henderson Group PLC bought a new stake in First Community Corporation in the second quarter worth approximately $1,141,000. Geode Capital Management LLC bought a new stake in First Community Corporation in the first quarter worth approximately $1,146,000. Finally, The Manufacturers Life Insurance Company increased its holdings in First Community Corporation by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 390,962 shares of the bank’s stock worth $8,210,000 after purchasing an additional 7,919 shares in 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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