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

First Community (NASDAQ:FCCO) issued its quarterly earnings results on Wednesday. The bank reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.08, Zacks reports. The firm had revenue of $23.16 million during the quarter, compared to the consensus estimate of $23.61 million. First Community had a return on equity of 12.71% and a net margin of 16.85%.

First Community Price Performance

Shares of NASDAQ FCCO opened at $30.69 on Thursday. First Community has a twelve month low of $21.80 and a twelve month high of $31.51. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $287.87 million, a price-to-earnings ratio of 12.43 and a beta of 0.34. The business has a 50 day simple moving average of $29.45 and a 200-day simple moving average of $29.03.

First Community Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 19th. Stockholders of record on Tuesday, May 5th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date is Tuesday, May 5th. First Community’s payout ratio is 25.91%.

Analyst Ratings Changes

FCCO has been the subject of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of First Community in a report on Tuesday. Hovde Group increased their price target on First Community from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

Institutional Investors Weigh In On First Community

A number of institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased its holdings in shares of First Community by 115.5% in the 1st quarter. Millennium Management LLC now owns 195,527 shares of the bank’s stock valued at $4,411,000 after acquiring an additional 104,796 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of First Community by 7.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 185,022 shares of the bank’s stock valued at $5,486,000 after acquiring an additional 12,902 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of First Community by 103.4% in the 2nd quarter. Geode Capital Management LLC now owns 174,732 shares of the bank’s stock valued at $4,260,000 after acquiring an additional 88,807 shares during the last quarter. State Street Corp increased its holdings in shares of 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. Finally, Goldman Sachs Group Inc. increased its holdings in shares of First Community by 199.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 90,919 shares of the bank’s stock valued at $2,051,000 after acquiring an additional 60,596 shares during the last quarter. 61.25% of the stock is currently owned by 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.