First Community (NASDAQ:FCCO) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of First Community (NASDAQ:FCCO) from a buy rating to a hold rating in a research report released on Sunday,Wall Street Zen reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a research note on Friday, July 17th. Hovde Group raised their target price on shares of First Community from $36.00 to $37.50 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $37.50.

First Community Price Performance

FCCO opened at $32.27 on Friday. The business’s 50-day moving average is $33.57 and its two-hundred day moving average is $32.01. First Community has a 1 year low of $25.92 and a 1 year high of $35.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81. The firm has a market capitalization of $303.34 million, a PE ratio of 12.04 and a beta of 0.33.

First Community (NASDAQ:FCCO) last announced its earnings results on Wednesday, July 22nd. The bank reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.15. First Community had a net margin of 18.32% and a return on equity of 13.23%. The business had revenue of $25.14 million during the quarter, compared to the consensus estimate of $24.69 million. Research analysts anticipate that First Community will post 3.14 earnings per share for the current fiscal year.

First Community Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 4th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.1%. This is a boost from First Community’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, August 4th. First Community’s dividend payout ratio (DPR) is 25.37%.

Insider Buying and Selling at First Community

In other First Community news, Director Jane S. Sosebee purchased 1,250 shares of the company’s stock in a transaction dated Tuesday, August 25th. The shares were acquired at an average price of $33.95 per share, for a total transaction of $42,437.50. Following the completion of the purchase, the director owned 10,855 shares of the company’s stock, valued at approximately $368,527.25. The trade was a 13.01% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Fred Joseph Deutsch sold 10,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total transaction of $345,200.00. Following the transaction, the executive vice president owned 18,468 shares in the company, valued at approximately $637,515.36. This trade represents a 35.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 24,800 shares of company stock worth $849,140. 8.84% of the stock is owned by insiders.

Hedge Funds Weigh In On First Community

Hedge funds and other institutional investors have recently modified their holdings of the stock. Burkett Financial Services LLC increased its stake in First Community by 154.8% during the 3rd quarter. Burkett Financial Services LLC now owns 762 shares of the bank’s stock valued at $25,000 after purchasing an additional 463 shares in the last quarter. Anchor Investment Management LLC lifted its stake in shares of First Community by 3.2% during the second quarter. Anchor Investment Management LLC now owns 36,930 shares of the bank’s stock worth $1,207,000 after buying an additional 1,154 shares during the period. Squarepoint Ops LLC lifted its stake in shares of First Community by 18.2% during the second quarter. Squarepoint Ops LLC now owns 72,464 shares of the bank’s stock worth $2,368,000 after buying an additional 11,141 shares during the period. Hsbc Holdings PLC lifted its stake in shares of First Community by 51.0% during the second quarter. Hsbc Holdings PLC now owns 28,590 shares of the bank’s stock worth $928,000 after buying an additional 9,652 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of First Community during the second quarter worth $195,000. 61.25% of the stock is owned by hedge funds and other institutional investors.

First Community Company Profile

First Community Corporation is a bank holding company headquartered in Lexington, South Carolina. Through its principal subsidiary, First Community Bank, the company provides banking and financial services to individuals, families, businesses and institutions.

First Community Bank offers deposit accounts, residential and commercial real estate lending, consumer loans, business financing and other credit products. Its services also include online and mobile banking, treasury management, mortgage banking, wealth management and investment services.

Founded in 1995, First Community serves communities across South Carolina through a network of banking offices and digital channels.