First Community Corporation (NASDAQ:FCCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “
Separately, ValuEngine raised First Community Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
Shares of First Community Corporation (FCCO) traded down 0.48% during mid-day trading on Tuesday, hitting $20.70. The company had a trading volume of 9,819 shares. First Community Corporation has a 1-year low of $14.41 and a 1-year high of $23.55. The company has a 50-day moving average price of $20.85 and a 200-day moving average price of $20.61. The company has a market capitalization of $138.71 million, a price-to-earnings ratio of 20.50 and a beta of 0.81.
First Community Corporation (NASDAQ:FCCO) last released its earnings results on Wednesday, July 19th. The bank reported $0.24 earnings per share (EPS) 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 8.29%. The firm had revenue of $9.69 million during the quarter, compared to analyst estimates of $9.42 million. On average, equities analysts anticipate that First Community Corporation will post $1.02 EPS for the current year.
In other First Community Corporation news, CEO Michael C. Crapps sold 6,544 shares of the stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $20.06, for a total transaction of $131,272.64. Following the sale, the chief executive officer now directly owns 67,967 shares of the company’s stock, valued at approximately $1,363,418.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.73% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the company. RMB Capital Management LLC increased its stake in shares of First Community Corporation by 69.7% in the fourth quarter. RMB Capital Management LLC now owns 317,545 shares of the bank’s stock valued at $5,732,000 after buying an additional 130,381 shares in the last quarter. Asset Advisors Corp increased its stake in shares of First Community Corporation by 0.5% in the first quarter. Asset Advisors Corp now owns 47,864 shares of the bank’s stock valued at $1,053,000 after buying an additional 256 shares in the last quarter. Greenwood Capital Associates LLC bought a new stake in shares of First Community Corporation during the first quarter valued at $338,000. Stifel Financial Corp increased its stake in shares of First Community Corporation by 26.4% in the first quarter. Stifel Financial Corp now owns 18,906 shares of the bank’s stock valued at $416,000 after buying an additional 3,946 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in shares of First Community Corporation during the first quarter valued at $110,000. 46.57% of the stock is currently owned by institutional investors.
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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