First Community (NASDAQ:FCCO) Lowered to Hold at ValuEngine

ValuEngine downgraded shares of First Community (NASDAQ:FCCO) from a buy rating to a hold rating in a research report released on Tuesday, ValuEngine reports.

A number of other equities analysts have also recently commented on FCCO. DA Davidson assumed coverage on First Community in a report on Tuesday, August 20th. They issued a neutral rating and a $20.50 target price on the stock. Zacks Investment Research upgraded First Community from a sell rating to a hold rating and set a $22.00 target price on the stock in a research report on Friday, October 18th.

Shares of NASDAQ FCCO opened at $21.03 on Tuesday. First Community has a 12-month low of $17.08 and a 12-month high of $23.19. The firm has a market capitalization of $151.85 million, a price-to-earnings ratio of 14.50 and a beta of 0.91. The company has a current ratio of 0.79, a quick ratio of 0.77 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average of $19.71 and a 200 day moving average of $18.96.

First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.04. The business had revenue of $12.47 million for the quarter, compared to the consensus estimate of $12.09 million. First Community had a net margin of 20.48% and a return on equity of 9.42%. Sell-side analysts predict that First Community will post 1.42 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 31st were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Wednesday, October 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.09%. First Community’s payout ratio is currently 30.34%.

A number of large investors have recently modified their holdings of the business. Asset Advisors Investment Management LLC lifted its position in shares of First Community by 3.7% in the second quarter. Asset Advisors Investment Management LLC now owns 56,434 shares of the bank’s stock valued at $1,045,000 after acquiring an additional 2,000 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in First Community by 11.7% in the 2nd quarter. Acadian Asset Management LLC now owns 30,873 shares of the bank’s stock worth $571,000 after purchasing an additional 3,235 shares in the last quarter. Capital Investment Advisory Services LLC boosted its stake in First Community by 386.0% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 2,673 shares of the bank’s stock worth $52,000 after purchasing an additional 2,123 shares during the period. Cutler Capital Management LLC boosted its stake in First Community by 155.7% in the 2nd quarter. Cutler Capital Management LLC now owns 38,348 shares of the bank’s stock worth $710,000 after purchasing an additional 23,348 shares during the period. Finally, Context BH Capital Management LP bought a new position in First Community in the 2nd quarter worth approximately $928,000. 50.22% of the stock is currently owned by institutional investors and hedge funds.

First Community Company Profile

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 four segments: Commercial and Retail Banking, Mortgage Banking, Investment Advisory and Non-Deposit, and Corporate.

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