Zacks Investment Research Downgrades First Community (NASDAQ:FCCO) to Sell

First Community (NASDAQ:FCCOGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Monday, Zacks.com reports.

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 have also recently issued reports on FCCO. StockNews.com started coverage on First Community in a research note on Tuesday, April 19th. They issued a “hold” rating for the company. Raymond James cut First Community from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 20th.

NASDAQ FCCO traded down $0.13 during trading on Monday, hitting $20.22. The company’s stock had a trading volume of 1,652 shares, compared to its average volume of 8,343. The company has a current ratio of 0.66, a quick ratio of 0.65 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $152.88 million, a P/E ratio of 9.72 and a beta of 0.65. The firm’s 50 day moving average is $20.86. First Community has a fifty-two week low of $18.00 and a fifty-two week high of $23.42.

First Community (NASDAQ:FCCOGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The bank reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. First Community had a return on equity of 11.27% and a net margin of 25.54%. On average, research analysts forecast that First Community will post 1.87 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. BHZ Capital Management LP boosted its stake in shares of First Community by 2.1% in the fourth quarter. BHZ Capital Management LP now owns 74,068 shares of the bank’s stock worth $1,546,000 after acquiring an additional 1,553 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of First Community by 18.7% in the fourth quarter. Russell Investments Group Ltd. now owns 136,299 shares of the bank’s stock worth $2,827,000 after acquiring an additional 21,509 shares during the last quarter. Strategic Value Bank Partners LLC acquired a new stake in shares of First Community in the fourth quarter worth approximately $2,882,000. Elizabeth Park Capital Advisors Ltd. boosted its stake in shares of First Community by 7.7% in the fourth quarter. Elizabeth Park Capital Advisors Ltd. now owns 161,784 shares of the bank’s stock worth $3,377,000 after acquiring an additional 11,598 shares during the last quarter. Finally, CWM LLC acquired a new stake in shares of First Community in the fourth quarter worth approximately $78,000. 51.60% of the stock is currently owned by institutional investors.

First Community Company Profile (Get Rating)

First Community Corporation operates as the bank holding company for First Community Bank which offers various commercial and retail banking products and services to small-to-medium sized businesses, professional concerns, and individuals. The company operates through Commercial and Retail Banking, Mortgage Banking, and Investment Advisory and Non-Deposit segments.

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