First Community (FCCO) Downgraded to “Hold” at Zacks Investment Research
First Community (NASDAQ:FCCO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released 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. “
Several other brokerages also recently commented on FCCO. ValuEngine downgraded shares of First Community from a “buy” rating to a “hold” rating in a report on Friday, October 20th. FIG Partners downgraded shares of First Community from an “outperform” rating to a “market-perform” rating in a report on Monday, January 22nd.
First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, January 17th. The bank reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $10.65 million for the quarter, compared to the consensus estimate of $10.69 million. First Community had a return on equity of 8.73% and a net margin of 13.91%. research analysts predict that First Community will post 1.38 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in FCCO. Janus Henderson Group PLC boosted its holdings in shares of First Community by 136.9% during the 3rd quarter. Janus Henderson Group PLC now owns 128,725 shares of the bank’s stock worth $2,632,000 after buying an additional 74,397 shares during the period. Independent Advisor Alliance bought a new stake in shares of First Community during the 3rd quarter worth about $904,000. Renaissance Technologies LLC bought a new stake in shares of First Community during the 4th quarter worth about $348,000. Wells Fargo & Company MN boosted its holdings in shares of First Community by 528.5% during the 4th quarter. Wells Fargo & Company MN now owns 13,809 shares of the bank’s stock worth $313,000 after buying an additional 11,612 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of First Community during the 4th quarter worth about $245,000. 42.22% of the stock is owned by institutional investors and hedge funds.
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About First Community
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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