Zacks Investment Research downgraded shares of First Community Corporation (NASDAQ:FCCO) from a hold rating to a sell rating in a research note released on Friday morning.

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 upgraded First Community Corporation from a hold rating to a buy rating in a report on Friday, September 1st.

First Community Corporation (FCCO) opened at 20.95 on Friday. First Community Corporation has a 52 week low of $14.80 and a 52 week high of $23.55. The firm has a 50-day moving average of $20.66 and a 200-day moving average of $20.81. The company has a market cap of $140.30 million, a price-to-earnings ratio of 20.74 and a beta of 0.81.

First Community Corporation (NASDAQ:FCCO) last posted its quarterly 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). The business had revenue of $9.69 million for the quarter, compared to the consensus estimate of $9.42 million. First Community Corporation had a return on equity of 8.24% and a net margin of 17.39%. Equities analysts forecast that First Community Corporation will post $1.00 earnings per share for the current year.

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In other First Community Corporation news, Director George H. Fann, Jr. purchased 1,903 shares of the business’s stock in a transaction on Thursday, September 21st. The shares were purchased at an average cost of $20.35 per share, for a total transaction of $38,726.05. Following the acquisition, the director now owns 86,519 shares of the company’s stock, valued at $1,760,661.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George H. Fann, Jr. purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $20.55 per share, for a total transaction of $102,750.00. Following the completion of the acquisition, the director now directly owns 84,616 shares in the company, valued at approximately $1,738,858.80. The disclosure for this purchase can be found here. 8.73% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. ClariVest Asset Management LLC bought a new position in shares of First Community Corporation during the 1st quarter worth approximately $110,000. Stifel Financial Corp boosted its holdings in shares of First Community Corporation by 26.4% during the 1st quarter. Stifel Financial Corp now owns 18,906 shares of the bank’s stock worth $416,000 after buying an additional 3,946 shares in the last quarter. Geode Capital Management LLC bought a new position in shares of First Community Corporation during the 1st quarter worth approximately $1,146,000. Janus Henderson Group PLC bought a new position in shares of First Community Corporation during the 2nd quarter worth approximately $1,141,000. Finally, Mendon Capital Advisors Corp boosted its holdings in shares of First Community Corporation by 31.0% during the 1st quarter. Mendon Capital Advisors Corp now owns 292,490 shares of the bank’s stock worth $6,434,000 after buying an additional 69,219 shares in the last quarter. Hedge funds and other institutional investors own 47.13% of the company’s stock.

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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