First Community (FCCO) Downgraded by ValuEngine

First Community (NASDAQ:FCCO) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday, August 2nd.

Separately, Zacks Investment Research upgraded shares of First Community from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Friday, April 20th.

Shares of First Community traded down $0.20, reaching $25.65, during midday trading on Thursday, according to Marketbeat.com. The company’s stock had a trading volume of 1,827 shares, compared to its average volume of 8,622. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.76 and a quick ratio of 0.74. First Community has a one year low of $19.60 and a one year high of $26.25. The company has a market capitalization of $196.59 million, a P/E ratio of 23.53 and a beta of 0.50.

First Community (NASDAQ:FCCO) last released its quarterly earnings results on Wednesday, July 18th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.02. First Community had a net margin of 17.48% and a return on equity of 9.59%. The business had revenue of $11.85 million for the quarter, compared to analyst estimates of $11.65 million. analysts anticipate that First Community will post 1.52 earnings per share for the current year.

Large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. acquired a new position in shares of First Community during the second quarter worth approximately $214,000. Bank of New York Mellon Corp bought a new stake in shares of First Community in the 4th quarter worth approximately $240,000. Deutsche Bank AG boosted its position in shares of First Community by 44.8% during the fourth quarter. Deutsche Bank AG now owns 10,825 shares of the bank’s stock valued at $244,000 after purchasing an additional 3,350 shares in the last quarter. Millennium Management LLC bought a new stake in shares of First Community during the fourth quarter valued at approximately $245,000. Finally, Abacus Planning Group Inc. bought a new stake in shares of First Community during the first quarter valued at approximately $258,000. 44.39% of the stock is currently owned by hedge funds and other institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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