First Community (NASDAQ:FCCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Friday, Zacks.com reports.
According to Zacks, “First Community Corp is not currently engaged in any business other than owning and managing First Community Bank. The bank is engaged in general commercial and retail banking, with an emphasis on the needs of small and medium-sized businesses, professional concerns and individuals, primarily in and around Richland and Lexington counties in South Carolina.”
Separately, Raymond James downgraded shares of First Community from an “outperform” rating to a “market performer” rating in a research report on Thursday.
FCCO shares were down $0.22 on Friday, hitting $21.02. 6,709 shares were traded, against an average volume of 7,515. The company has a current ratio of 0.69, a quick ratio of 0.68 and a debt ratio of 0.11. The company’s 50-day moving average price is $21.11 and its 200-day moving average price is $20.54. The company has a market capitalization of $158.57 million, a price-earnings ratio of 10.56 and a beta of 0.67. First Community has a 12-month low of $16.35 and a 12-month high of $23.42.
First Community Inc (NASDAQ:FCCO) last reported quarterly results on Wednesday, January 19. The bank reported earnings per share of $0.52 for the quarter, beating consensus analyst estimates of $0.49 by $0.03. First Community had a net margin of 24.49% and a return on equity of 10.98%. Equity research analysts expect First Community to post earnings per share of 2.02 for the current year.
Several large investors have recently changed their positions in the company. The Manufacturers Life Insurance Company increased its equity stake in First Community by 2.1% in the third quarter. The Manufacturers Life Insurance Company now owns 400,272 shares of the bank valued at $7,925,000 after buying 8,263 more shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in First Community shares by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 392,009 shares of the bank worth $7,919,000 after acquiring an additional 12,471 shares during the period. Banc Funds Co. LLC increased its stake in First Community shares by 5.6% during the third quarter. Banc Funds Co. LLC now owns 360,504 shares of the bank worth $7,138,000 after acquiring an additional 19,240 shares during the period. Wellington Management Group LLP increased its stake in First Community shares by 40.1% during the third quarter. Wellington Management Group LLP now owns 315,983 shares of the bank worth $6,304,000 after acquiring an additional 90,415 shares during the period. Finally, Hunter Perkins Capital Management LLC increased its stake in First Community shares by 13.1% during the third quarter. Hunter Perkins Capital Management LLC now owns 222,075 shares of the bank worth $4,430,000 after acquiring an additional 25,675 shares during the period. 49.41% of the shares are held by institutional investors and hedge funds.
About the first community
First Community Corp. (South Carolina) is a bank holding company that provides commercial banking services through its subsidiary, First Community Bank. It operates through the following segments: Commercial and Retail Banking; Mortgage banking services; Investment advice and non-deposit; and Business.
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