First Community (NASDAQ:FCCO) Issues Quarterly Earnings Results

First Community (NASDAQ:FCCO) posted its earnings results on Wednesday. The bank reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01, Zacks reports. The business had revenue of $20.60 million during the quarter, compared to analyst estimates of $20.25 million. First Community had a return on equity of 12.46% and a net margin of 16.69%.

First Community Price Performance

Shares of FCCO stock traded up $0.30 on Wednesday, reaching $28.88. The company’s stock had a trading volume of 70,619 shares, compared to its average volume of 72,059. The stock’s fifty day simple moving average is $29.51 and its 200-day simple moving average is $27.80. First Community has a 1 year low of $19.46 and a 1 year high of $31.50. The company has a market capitalization of $222.09 million, a price-to-earnings ratio of 12.03 and a beta of 0.38. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09.

First Community Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.2%. The ex-dividend date is Tuesday, February 10th. First Community’s dividend payout ratio (DPR) is currently 26.67%.

Hedge Funds Weigh In On First Community

Hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in First Community during the 3rd quarter valued at $26,000. BNP Paribas Financial Markets increased its stake in shares of First Community by 324.2% during the second quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock valued at $33,000 after buying an additional 1,031 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of First Community in the second quarter valued at about $99,000. New York State Common Retirement Fund bought a new stake in shares of First Community in the second quarter valued at about $102,000. Finally, Raymond James Financial Inc. purchased a new stake in First Community in the second quarter worth about $182,000. 61.25% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FCCO has been the topic of several analyst reports. Zacks Research downgraded First Community from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Community in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.50.

About First Community

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.