First Community (NASDAQ:FCCO) Raised to “Buy” at Wall Street Zen

First Community (NASDAQ:FCCO) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts also recently weighed in on the stock. Hovde Group increased their price target on shares of First Community from $36.00 to $37.50 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “buy (b)” rating on shares of First Community in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, First Community presently has an average rating of “Buy” and an average target price of $37.50.

First Community Price Performance

NASDAQ FCCO opened at $32.67 on Friday. First Community has a 52 week low of $25.92 and a 52 week high of $35.74. The firm has a market capitalization of $307.10 million, a P/E ratio of 12.19 and a beta of 0.33. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $33.77 and a 200-day moving average price of $31.86.

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

Insider Buying and Selling

In related news, EVP Fred Joseph Deutsch sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $34.52, for a total value of $345,200.00. Following the completion of the sale, the executive vice president directly owned 18,468 shares of the company’s stock, valued at approximately $637,515.36. This represents a 35.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jonathan W. Been sold 14,800 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $34.05, for a total transaction of $503,940.00. Following the sale, the director owned 120,655 shares in the company, valued at approximately $4,108,302.75. The trade was a 10.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.84% of the stock is currently owned by insiders.

Institutional Trading of First Community

A number of hedge funds and other institutional investors have recently modified their holdings of FCCO. Burkett Financial Services LLC lifted its stake in shares of 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 buying an additional 463 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in First Community in the 2nd quarter worth $195,000. NewEdge Advisors LLC increased its stake in First Community by 24.7% in the 1st quarter. NewEdge Advisors LLC now owns 10,607 shares of the bank’s stock worth $310,000 after buying an additional 2,099 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in First Community in the 4th quarter worth $524,000. Finally, Lazard Asset Management LLC bought a new stake in First Community during the first quarter valued at about $594,000. 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.