First Community (NASDAQ:FCCO) Posts Earnings Results, Beats Expectations By $0.09 EPS
by Tristan Rich · The Markets DailyFirst Community (NASDAQ:FCCO – Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.09, Zacks reports. First Community had a net margin of 16.85% and a return on equity of 12.71%.
First Community Stock Up 1.9%
First Community stock traded up $0.58 during trading hours on Wednesday, hitting $30.80. The company had a trading volume of 8,500 shares, compared to its average volume of 71,018. The firm has a market capitalization of $289.02 million, a P/E ratio of 12.45 and a beta of 0.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.79 and a quick ratio of 0.79. The firm’s fifty day moving average is $29.44 and its 200-day moving average is $29.02. First Community has a fifty-two week low of $21.80 and a fifty-two week high of $31.51.
First Community Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 24th. Shareholders of record on Tuesday, February 10th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, February 10th. First Community’s dividend payout ratio is currently 25.91%.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC increased its stake in First Community by 5.6% in the 4th 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 period. Bridgeway Capital Management LLC increased its stake in First Community by 3.2% in the 4th quarter. Bridgeway Capital Management LLC now owns 22,869 shares of the bank’s stock valued at $678,000 after buying an additional 700 shares during the period. AQR Capital Management LLC increased its stake in First Community by 22.4% in the 4th quarter. AQR Capital Management LLC now owns 14,057 shares of the bank’s stock valued at $417,000 after buying an additional 2,574 shares during the period. Barclays PLC increased its stake in First Community by 48.4% in the 4th quarter. Barclays PLC now owns 37,346 shares of the bank’s stock valued at $1,107,000 after buying an additional 12,188 shares during the period. Finally, State Street Corp increased its stake 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 buying an additional 10,110 shares during the period. Institutional investors and hedge funds own 61.25% of the company’s stock.
Analyst Ratings Changes
FCCO has been the topic of a number of recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of First Community in a report on Thursday, January 22nd. Hovde Group boosted their price target on shares of First Community from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Tuesday, February 3rd. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.
Get Our Latest Analysis on First Community
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.