First Community (NASDAQ:FCCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Other equities research analysts also recently issued research reports about the company. FIG Partners downgraded First Community from an “outperform” rating to a “market-perform” rating in a research report on Monday, January 22nd. ValuEngine cut First Community from a “buy” rating to a “hold” rating in a report on Friday, October 20th.
First Community (NASDAQ:FCCO) last announced its quarterly earnings data on Wednesday, January 17th. The bank reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). The business had revenue of $10.65 million during the quarter, compared to analysts’ expectations of $10.69 million. First Community had a net margin of 13.91% and a return on equity of 8.73%. research analysts forecast that First Community will post 1.38 earnings per share for the current year.
A number of institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in First Community by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 390,962 shares of the bank’s stock valued at $8,210,000 after acquiring an additional 7,919 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in First Community by 136.9% in the third quarter. Janus Henderson Group PLC now owns 128,725 shares of the bank’s stock valued at $2,632,000 after acquiring an additional 74,397 shares during the last quarter. Independent Advisor Alliance acquired a new position in First Community in the third quarter valued at $904,000. Stifel Financial Corp boosted its holdings in First Community by 2.1% in the second quarter. Stifel Financial Corp now owns 19,312 shares of the bank’s stock valued at $406,000 after acquiring an additional 406 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in First Community in the fourth quarter valued at $348,000. Hedge funds and other institutional investors own 42.22% of the company’s stock.
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About First Community
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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