First Community Corporation (FCCO) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of First Community Corporation (NASDAQ:FCCO) from a hold rating to a buy rating in a research note released on Friday morning.
Separately, Zacks Investment Research downgraded shares of First Community Corporation from a hold rating to a sell rating in a report on Tuesday, July 25th.
First Community Corporation (NASDAQ FCCO) remained flat at $21.10 during mid-day trading on Friday. 1,088 shares of the company traded hands. The company has a market cap of $141.31 million, a P/E ratio of 20.89 and a beta of 0.81. The stock’s 50-day moving average is $20.82 and its 200-day moving average is $20.89. First Community Corporation has a 12 month low of $14.80 and a 12 month high of $23.55.
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 analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.42 million. Analysts expect that First Community Corporation will post $0.98 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, July 27th. This represents a $0.36 dividend on an annualized basis and a yield of 1.71%. First Community Corporation’s payout ratio is 35.64%.
In related news, Director George H. Fann, Jr. bought 5,000 shares of the stock in a transaction that occurred on 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 owns 84,616 shares in the company, valued at $1,738,858.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.73% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Stifel Financial Corp grew its holdings in First Community Corporation by 2.1% in the second quarter. Stifel Financial Corp now owns 19,312 shares of the bank’s stock valued at $406,000 after purchasing an additional 406 shares during the period. ClariVest Asset Management LLC purchased a new stake in First Community Corporation in the first quarter valued at approximately $110,000. The Manufacturers Life Insurance Company grew its holdings in First Community Corporation by 2.1% in the second quarter. The Manufacturers Life Insurance Company now owns 390,962 shares of the bank’s stock valued at $8,210,000 after purchasing an additional 7,919 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in First Community Corporation in the first quarter valued at approximately $226,000. Finally, Greenwood Capital Associates LLC purchased a new stake in First Community Corporation in the first quarter valued at approximately $338,000. Hedge funds and other institutional investors own 47.13% of the company’s stock.
First Community Corporation Company Profile
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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