Zacks Investment Research upgraded shares of First Community (NASDAQ:FCCO) from a sell rating to a hold rating in a research note released on Friday, Zacks.com reports.
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. “
A number of other equities analysts also recently weighed in on the company. ValuEngine upgraded First Community from a sell rating to a hold rating in a report on Thursday, August 15th. DA Davidson assumed coverage on First Community in a report on Tuesday, August 20th. They issued a neutral rating and a $20.50 target price on the stock.
First Community stock traded up $0.07 during midday trading on Friday, hitting $19.08. The company’s stock had a trading volume of 8,983 shares, compared to its average volume of 10,395. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average price is $18.74 and its 200-day moving average price is $18.72. First Community has a 12 month low of $17.08 and a 12 month high of $23.96. The company has a market capitalization of $141.19 million, a PE ratio of 13.16 and a beta of 0.89.
First Community (NASDAQ:FCCO) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $12.30 million for the quarter, compared to analysts’ expectations of $12.04 million. First Community had a net margin of 20.81% and a return on equity of 9.59%. As a group, equities analysts anticipate that First Community will post 1.37 EPS for the current year.
In other news, VP David K. Proctor sold 3,888 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $19.05, for a total value of $74,066.40. Following the transaction, the vice president now owns 21,349 shares in the company, valued at approximately $406,698.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.66% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of FCCO. Jacobs Asset Management LLC acquired a new position in shares of First Community in the 2nd quarter valued at about $3,314,000. Maltese Capital Management LLC increased its holdings in shares of First Community by 743.9% in the 2nd quarter. Maltese Capital Management LLC now owns 147,700 shares of the bank’s stock valued at $2,734,000 after purchasing an additional 130,198 shares during the period. Renaissance Technologies LLC grew its stake in shares of First Community by 122.0% in the 2nd quarter. Renaissance Technologies LLC now owns 107,900 shares of the bank’s stock valued at $1,997,000 after buying an additional 59,300 shares in the last quarter. Context BH Capital Management LP bought a new stake in shares of First Community in the 2nd quarter valued at approximately $928,000. Finally, Paloma Partners Management Co bought a new stake in shares of First Community in the 2nd quarter valued at approximately $635,000. Institutional investors own 50.54% of the company’s stock.
About First Community
First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals. The company operates through four segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate.
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