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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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