First Community Corporation (NASDAQ:FCCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

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 raised shares of First Community Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.

Shares of First Community Corporation (NASDAQ FCCO) opened at 20.95 on Friday. The company’s 50-day moving average price is $20.66 and its 200 day moving average price is $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 has a 12-month low of $14.80 and a 12-month high of $23.55.

First Community Corporation (NASDAQ:FCCO) last announced its quarterly earnings results on Wednesday, July 19th. The bank reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $9.69 million during the quarter, compared to the consensus estimate of $9.42 million. Equities analysts predict that First Community Corporation will post $1.00 earnings per share for the current year.

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In other news, Director George H. Fann, Jr. bought 1,903 shares of the company’s stock in a transaction on Thursday, September 21st. The shares were purchased at an average price of $20.35 per share, with a total value of $38,726.05. Following the transaction, the director now directly owns 86,519 shares in the company, valued at $1,760,661.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George H. Fann, Jr. bought 5,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were purchased at an average cost of $20.55 per share, for a total transaction of $102,750.00. Following the transaction, the director now owns 84,616 shares in the company, valued at $1,738,858.80. The disclosure for this purchase can be found here. 8.60% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC bought a new position in shares of First Community Corporation during the 1st quarter worth approximately $1,146,000. ClariVest Asset Management LLC bought a new position in shares of First Community Corporation during the 1st quarter worth approximately $110,000. RMB Capital Management LLC lifted its position in shares of First Community Corporation by 21.1% during the 1st quarter. RMB Capital Management LLC now owns 384,473 shares of the bank’s stock worth $8,458,000 after buying an additional 66,928 shares in the last quarter. Mendon Capital Advisors Corp lifted its position 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. Finally, The Manufacturers Life Insurance Company lifted its position in shares of First Community Corporation by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 390,962 shares of the bank’s stock worth $8,210,000 after buying an additional 7,919 shares in the last quarter. 47.13% of the stock is currently owned by hedge funds and other institutional investors.

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.

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