First Community (NASDAQ:FCCO) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of First Community (NASDAQ:FCCO) from a hold rating to a sell rating in a report released on Friday.

Separately, Raymond James upgraded shares of First Community from a market perform rating to an outperform rating and set a $21.00 target price on the stock in a research note on Thursday, January 25th.

First Community Trading Up 5.9 %

First Community stock opened at $16.94 on Friday. First Community has a 52-week low of $15.40 and a 52-week high of $22.00. The company has a market cap of $129.25 million, a P/E ratio of 11.85 and a beta of 0.43. The company has a quick ratio of 0.77, a current ratio of 0.78 and a debt-to-equity ratio of 0.80. The business has a 50-day simple moving average of $16.79 and a two-hundred day simple moving average of $17.91.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, April 17th. The bank reported $0.34 EPS for the quarter, hitting analysts’ consensus estimates of $0.34. The company had revenue of $24.44 million for the quarter, compared to analysts’ expectations of $14.83 million. First Community had a return on equity of 8.69% and a net margin of 12.32%. Analysts predict that First Community will post 1.55 EPS for the current year.

First Community Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 14th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Monday, April 29th. First Community’s payout ratio is currently 39.16%.

Institutional Trading of First Community

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Common Retirement Fund increased its stake in First Community by 522.1% during the fourth quarter. New York State Common Retirement Fund now owns 3,465 shares of the bank’s stock worth $75,000 after acquiring an additional 2,908 shares during the last quarter. Community Bank N.A. bought a new stake in First Community in the third quarter worth $466,000. Anchor Investment Management LLC bought a new stake in First Community in the fourth quarter worth $670,000. Ancora Advisors LLC boosted its stake in First Community by 103.5% during the third quarter. Ancora Advisors LLC now owns 76,251 shares of the bank’s stock worth $1,317,000 after buying an additional 38,780 shares during the period. Finally, Strategic Value Bank Partners LLC increased its position in First Community by 0.3% during the fourth quarter. Strategic Value Bank Partners LLC now owns 290,114 shares of the bank’s stock valued at $6,246,000 after acquiring an additional 892 shares during the last quarter. 61.25% of the stock is currently owned by institutional investors.

About First Community

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