First Community Co. (NASDAQ:FCCO) Short Interest Up 18.9% in June

First Community Co. (NASDAQ:FCCO) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 8,800 shares, a growth of 18.9% from the June 15th total of 7,400 shares. Based on an average daily volume of 19,900 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.1% of the company’s shares are sold short.

Institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of First Community by 6.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 629,999 shares of the bank’s stock valued at $9,904,000 after buying an additional 40,649 shares during the period. Elizabeth Park Capital Advisors Ltd. increased its position in First Community by 15.8% during the first quarter. Elizabeth Park Capital Advisors Ltd. now owns 363,384 shares of the bank’s stock worth $5,712,000 after buying an additional 49,602 shares during the period. Penn Capital Management Co. Inc. increased its position in First Community by 9.6% during the first quarter. Penn Capital Management Co. Inc. now owns 128,507 shares of the bank’s stock worth $2,020,000 after buying an additional 11,242 shares during the period. Geode Capital Management LLC increased its position in First Community by 2.6% during the first quarter. Geode Capital Management LLC now owns 72,527 shares of the bank’s stock worth $1,140,000 after buying an additional 1,853 shares during the period. Finally, Stifel Financial Corp increased its position in First Community by 4.6% during the fourth quarter. Stifel Financial Corp now owns 24,826 shares of the bank’s stock worth $536,000 after buying an additional 1,095 shares during the period. Institutional investors own 49.41% of the company’s stock.

Several brokerages recently issued reports on FCCO. Hovde Group upgraded shares of First Community from a “market perform” rating to an “outperform” rating and decreased their price target for the stock from $18.00 to $17.00 in a research note on Monday, April 27th. Zacks Investment Research upgraded shares of First Community from a “sell” rating to a “hold” rating in a research note on Tuesday, June 23rd. DA Davidson upgraded shares of First Community from a “neutral” rating to a “buy” rating and set a $17.50 price objective for the company in a research note on Tuesday, June 9th. Stephens initiated coverage on shares of First Community in a research note on Monday, April 20th. They set an “equal weight” rating and a $16.00 price objective for the company. Finally, ValuEngine upgraded shares of First Community from a “sell” rating to a “hold” rating in a research note on Thursday, April 30th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. First Community currently has an average rating of “Hold” and a consensus target price of $18.38.

Shares of NASDAQ:FCCO traded down $0.76 during midday trading on Wednesday, reaching $14.37. 9,200 shares of the company’s stock traded hands, compared to its average volume of 23,389. First Community has a 1 year low of $12.60 and a 1 year high of $22.00. The company has a market cap of $112.90 million, a P/E ratio of 10.57 and a beta of 0.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.77 and a current ratio of 0.78. The company has a fifty day simple moving average of $15.06 and a two-hundred day simple moving average of $17.24.

First Community (NASDAQ:FCCO) last issued its earnings results on Wednesday, April 22nd. The bank reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). First Community had a return on equity of 8.54% and a net margin of 18.63%. The company had revenue of $12.35 million during the quarter, compared to analyst estimates of $12.18 million. As a group, research analysts forecast that First Community will post 1.03 EPS for the current fiscal year.

About First Community

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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