First Community Corporation (FCCO) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of First Community Corporation (NASDAQ:FCCO) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

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 report on Friday, June 2nd.

Shares of First Community Corporation (NASDAQ FCCO) opened at 20.85 on Friday. First Community Corporation has a 1-year low of $14.80 and a 1-year high of $23.55. The stock has a 50 day moving average of $20.76 and a 200 day moving average of $20.84. The company has a market cap of $139.63 million, a price-to-earnings ratio of 20.64 and a beta of 0.81.

First Community Corporation (NASDAQ:FCCO) last issued its quarterly earnings results on Wednesday, July 19th. The bank reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.02). First Community Corporation had a net margin of 17.39% and a return on equity of 8.24%. The company had revenue of $9.69 million for the quarter, compared to the consensus estimate of $9.42 million. On average, equities analysts forecast that First Community Corporation will post $0.98 EPS for the current year.

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In related news, Director George H. Fann, Jr. purchased 5,000 shares of First Community Corporation stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $20.55 per share, for a total transaction of $102,750.00. Following the completion of the acquisition, the director now directly owns 84,616 shares of the company’s stock, valued at $1,738,858.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 8.73% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the company. Geode Capital Management LLC bought a new position in shares of First Community Corporation during the first quarter valued at $1,146,000. RMB Capital Management LLC increased its holdings in shares of First Community Corporation by 21.1% during the first quarter. RMB Capital Management LLC now owns 384,473 shares of the bank’s stock valued at $8,458,000 after acquiring an additional 66,928 shares in the last quarter. ClariVest Asset Management LLC bought a new position in shares of First Community Corporation during the first quarter valued at $110,000. Elizabeth Park Capital Advisors Ltd. increased its holdings in shares of First Community Corporation by 10.9% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 238,208 shares of the bank’s stock valued at $5,241,000 after acquiring an additional 23,497 shares in the last quarter. Finally, Stratos Wealth Partners LTD. bought a new position in shares of First Community Corporation during the first quarter valued at $226,000. Hedge funds and other institutional investors 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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