First Community (NASDAQ:FCCO) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded First Community (NASDAQ: FCCO) from “hold” to “buy.” The stock has an average analyst rating of “Buy” and a consensus price target of $37.50.
• First Community reported quarterly EPS of $0.84, beating the $0.69 consensus estimate, while revenue of $25.14 million also exceeded expectations.
• FCCO shares opened at $32.67, with a market capitalization of approximately $307 million. Institutional investors own 61.25% of the company, while recent insider activity included both a director purchase and a larger director sale.

First Community (NASDAQ:FCCO - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

FCCO has been the topic of several other reports. Weiss Ratings reiterated a "buy (b)" rating on shares of First Community in a report on Friday, July 17th. Hovde Group increased their price target on First Community from $36.00 to $37.50 and gave the stock an "outperform" rating in a report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $37.50.

First Community Stock Performance

Shares of FCCO opened at $32.67 on Friday. The stock has a market cap of $307.10 million, a P/E ratio of 12.19 and a beta of 0.33. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. First Community has a 12-month low of $25.92 and a 12-month high of $35.74. The company has a 50-day moving average of $33.77 and a two-hundred day moving average of $31.84.

First Community (NASDAQ:FCCO - Get Free Report) last posted its quarterly 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 return on equity of 13.23% and a net margin of 18.32%.The business had revenue of $25.14 million during the quarter, compared to the consensus estimate of $24.69 million. As a group, research analysts predict that First Community will post 3.14 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Jane Sosebee acquired 1,250 shares of the business's stock in a transaction that occurred on Tuesday, August 25th. The stock was purchased at an average cost of $33.95 per share, for a total transaction of $42,437.50. Following the completion of the transaction, the director owned 10,855 shares in the company, valued at approximately $368,527.25. This trade represents a 13.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jonathan W. Been sold 14,800 shares of First Community stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $34.05, for a total transaction of $503,940.00. Following the completion of the transaction, the director owned 120,655 shares of the company's stock, valued at $4,108,302.75. This trade represents a 10.93% decrease in their position. The disclosure for this sale is available in the SEC filing. 8.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Community

Several institutional investors and hedge funds have recently modified their holdings of FCCO. Burkett Financial Services LLC lifted its stake in First Community by 154.8% during the third 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 grew its stake in shares of First Community by 24.7% in the first quarter. NewEdge Advisors LLC now owns 10,607 shares of the bank's stock worth $310,000 after acquiring an additional 2,099 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in First Community during the fourth quarter worth about $524,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of First Community during the 1st quarter worth approximately $594,000. Hedge funds and other institutional investors own 61.25% of the company's stock.

About First Community

First Community Corporation is the bank holding company for First Community Bank, a community-focused financial institution headquartered in Lexington, South Carolina. Through its banking subsidiary, the company provides financial products and services to individuals, families, businesses and nonprofit organizations.

First Community Bank offers deposit accounts, consumer and commercial loans, residential mortgage lending, home equity products, and other business banking services. Its offerings also include treasury management, online and mobile banking, and wealth management services designed to support customers' personal and business financial needs.

First Community serves customers through offices and digital banking channels in South Carolina, with a presence in the Midlands and other selected markets in the state.

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