First Community (NASDAQ:FCCO) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

First Community (NASDAQ:FCCO) posted its quarterly earnings data on Wednesday, April 22nd. The bank reported $0.72 EPS for the quarter, topping the consensus estimate of $0.64 by $0.08, Zacks reports. First Community had a return on equity of 13.00% and a net margin of 17.29%.The firm had revenue of $23.16 million for the quarter, compared to the consensus estimate of $23.61 million.

First Community Price Performance

Shares of NASDAQ:FCCO traded up $0.03 during trading on Friday, hitting $30.08. 123,525 shares of the company’s stock were exchanged, compared to its average volume of 72,201. The business’s 50-day simple moving average is $29.83 and its 200 day simple moving average is $29.51. The company has a market cap of $282.74 million, a price-to-earnings ratio of 11.80 and a beta of 0.35. First Community has a 52-week low of $21.80 and a 52-week high of $31.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.82 and a quick ratio of 0.81.

First Community Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 19th. Investors of record on Tuesday, May 5th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, May 5th. This represents a $0.64 annualized dividend and a dividend yield of 2.1%. First Community’s dividend payout ratio (DPR) is currently 25.10%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FCCO. Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a report on Tuesday, April 21st. Hovde Group upped their price target on shares of First Community from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Institutional Investors Weigh In On First Community

Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC raised its position in shares of First Community by 5.6% during the fourth quarter. Empowered Funds LLC now owns 13,232 shares of the bank’s stock valued at $392,000 after buying an additional 700 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in shares of First Community by 3.2% during the fourth quarter. Bridgeway Capital Management LLC now owns 22,869 shares of the bank’s stock worth $678,000 after acquiring an additional 700 shares during the last quarter. AQR Capital Management LLC grew its stake in First Community by 22.4% during the fourth quarter. AQR Capital Management LLC now owns 14,057 shares of the bank’s stock valued at $417,000 after acquiring an additional 2,574 shares in the last quarter. Barclays PLC grew its stake in First Community by 48.4% during the fourth quarter. Barclays PLC now owns 37,346 shares of the bank’s stock valued at $1,107,000 after acquiring an additional 12,188 shares in the last quarter. Finally, State Street Corp increased its holdings in First Community by 11.5% in the 4th quarter. State Street Corp now owns 98,264 shares of the bank’s stock valued at $2,914,000 after acquiring an additional 10,110 shares during the last quarter. 61.25% of the stock is owned by hedge funds and other institutional investors.

First Community Company Profile

First Community Financial Corp. (NASDAQ: FCCO) is the bank holding company for First Community Bank, a full-service commercial bank headquartered in Bluefield, West Virginia. Through its subsidiary, the company delivers a comprehensive range of financial services to individuals, small businesses and larger commercial clients. Its operations are focused on community banking, with an emphasis on personalized relationship management and local decision-making.

The company’s core offerings include deposit products such as checking and savings accounts, certificates of deposit and money market accounts, as well as consumer and commercial lending solutions.