Initiates Coverage on First Community (NASDAQ:FCCO)

Equities researchers at initiated coverage on shares of First Community (NASDAQ:FCCOGet Rating) in a research note issued on Sunday. The firm set a “hold” rating on the bank’s stock.

Separately, Piper Sandler increased their price objective on shares of First Community from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, January 19th.

First Community Stock Performance

Shares of FCCO opened at $19.64 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.65 and a current ratio of 0.65. First Community has a one year low of $16.97 and a one year high of $22.25. The stock has a 50-day moving average of $20.72 and a two-hundred day moving average of $19.50. The stock has a market cap of $148.67 million, a P/E ratio of 10.23 and a beta of 0.51.

First Community (NASDAQ:FCCOGet Rating) last issued its quarterly earnings results on Wednesday, January 18th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.02. First Community had a return on equity of 12.28% and a net margin of 23.31%. The company had revenue of $15.88 million for the quarter, compared to the consensus estimate of $15.81 million. As a group, research analysts predict that First Community will post 2.05 EPS for the current year.

Insider Transactions at First Community

In other First Community news, Director Jan H. Hollar bought 2,000 shares of the business’s stock in a transaction dated Wednesday, February 22nd. The shares were acquired at an average price of $19.60 per share, with a total value of $39,200.00. Following the purchase, the director now owns 5,359 shares in the company, valued at approximately $105,036.40. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 3.95% of the company’s stock.

Institutional Trading of First Community

Several hedge funds have recently made changes to their positions in FCCO. UBS Group AG boosted its stake in First Community by 314.7% during the 3rd quarter. UBS Group AG now owns 1,833 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,391 shares in the last quarter. Ronald Blue Trust Inc. bought a new stake in First Community in the second quarter worth approximately $150,000. Susquehanna International Group LLP acquired a new position in shares of First Community during the 4th quarter valued at about $279,000. State Street Corp grew its stake in First Community by 8.6% in the 1st quarter. State Street Corp now owns 17,755 shares of the bank’s stock valued at $376,000 after buying an additional 1,413 shares during the last quarter. Finally, Morgan Stanley increased its position in First Community by 13.3% in the 4th quarter. Morgan Stanley now owns 18,669 shares of the bank’s stock worth $409,000 after buying an additional 2,185 shares during the period. Institutional investors own 50.78% of the company’s stock.

About First Community

(Get Rating)

First Community Corp. is a bank holding company, which engages in the provision of commercial banking services through its subsidiary, First Community Bank. It operates through the following segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate.

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