First Community (NASDAQ:FCCO) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of First Community (NASDAQ:FCCO) from a hold rating to a sell rating in a report published on Thursday, 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. “

Separately, ValuEngine raised shares of Zumiez from a sell rating to a hold rating in a research note on Saturday, June 22nd.

Shares of NASDAQ:FCCO opened at $19.66 on Thursday. The firm has a market capitalization of $150.69 million, a price-to-earnings ratio of 13.94 and a beta of 0.85. The business’s fifty day simple moving average is $18.75. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. First Community has a 52 week low of $17.08 and a 52 week high of $26.25.

First Community (NASDAQ:FCCO) last issued its quarterly earnings results on Wednesday, July 17th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $12.30 million for the quarter, compared to analyst estimates of $12.04 million. First Community had a net margin of 20.81% and a return on equity of 9.70%. Research analysts anticipate that First Community will post 1.39 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 29th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Friday, July 26th. First Community’s dividend payout ratio is presently 30.34%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP grew its stake in shares of First Community by 19.1% in the fourth quarter. First Trust Advisors LP now owns 12,792 shares of the bank’s stock valued at $249,000 after buying an additional 2,050 shares in the last quarter. BlackRock Inc. boosted its holdings in First Community by 2.6% in the fourth quarter. BlackRock Inc. now owns 359,482 shares of the bank’s stock valued at $6,986,000 after purchasing an additional 9,217 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in First Community by 21.9% in the fourth quarter. Bank of New York Mellon Corp now owns 33,467 shares of the bank’s stock valued at $650,000 after purchasing an additional 6,021 shares during the last quarter. Northern Trust Corp boosted its holdings in First Community by 1.0% in the fourth quarter. Northern Trust Corp now owns 67,759 shares of the bank’s stock valued at $1,317,000 after purchasing an additional 663 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in First Community by 9.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 82,466 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 7,360 shares during the last quarter. 53.40% of the stock is owned by institutional investors and hedge funds.

First Community Company Profile

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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