First Community (NASDAQ:FCCO – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, 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. “
Separately, StockNews.com assumed coverage on First Community in a research report on Sunday. They set a “hold” rating for the company.
First Community (NASDAQ:FCCO – Get Rating) last released its earnings results on Wednesday, April 20th. The bank reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The company had revenue of $14.11 million during the quarter, compared to the consensus estimate of $14.21 million. First Community had a return on equity of 11.56% and a net margin of 25.54%. On average, research analysts expect that First Community will post 1.84 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCCO. Royal Bank of Canada increased its holdings in First Community by 167.0% in the second quarter. Royal Bank of Canada now owns 1,781 shares of the bank’s stock valued at $36,000 after purchasing an additional 1,114 shares during the last quarter. CWM LLC acquired a new position in First Community in the fourth quarter valued at about $78,000. Two Sigma Advisers LP acquired a new position in First Community in the third quarter valued at about $257,000. State Street Corp grew its stake in First Community by 8.6% in the first quarter. State Street Corp now owns 17,755 shares of the bank’s stock valued at $376,000 after acquiring an additional 1,413 shares during the period. Finally, Ancora Advisors LLC grew its stake in First Community by 20.7% in the third quarter. Ancora Advisors LLC now owns 30,865 shares of the bank’s stock valued at $611,000 after acquiring an additional 5,300 shares during the period. Institutional investors and hedge funds own 56.67% of the company’s stock.
About First Community (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.
- Get a free copy of the StockNews.com research report on First Community (FCCO)
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