First Community (NASDAQ:FCCO) Issues Earnings Results, Beats Expectations By $0.15 EPS

Key Points

• First Community reported quarterly earnings of $0.84 EPS, beating Wall Street expectations by $0.15. The bank also posted a 17.29% net margin and 13.00% return on equity.
• Shares of FCCO were down 1.4% in midday trading to $31.80 after the earnings release. The stock was trading below its 52-week high of $34.01 but above its 52-week low of $24.12.
• Analysts remain generally positive, with a Moderate Buy consensus and a $34.00 target price. Weiss Ratings also reiterated a buy rating on the stock.

First Community (NASDAQ:FCCO - Get Free Report) released its earnings results on Wednesday. The bank reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.15, Zacks reports. First Community had a net margin of 17.29% and a return on equity of 13.00%.

First Community Trading Down 1.4%

Shares of NASDAQ:FCCO traded down $0.44 during mid-day trading on Wednesday, hitting $31.80. The company had a trading volume of 14,284 shares, compared to its average volume of 79,213. 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 has a one year low of $24.12 and a one year high of $34.01. The firm has a fifty day moving average price of $31.52 and a 200 day moving average price of $30.27. The company has a market capitalization of $298.94 million, a PE ratio of 12.52 and a beta of 0.34.

Institutional Investors Weigh In On First Community

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC boosted its position in shares of First Community by 115.5% during the 1st quarter. Millennium Management LLC now owns 195,527 shares of the bank's stock worth $4,411,000 after purchasing an additional 104,796 shares in the last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 88,807 shares in the last quarter. Goldman Sachs Group Inc. increased its position in 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 buying an additional 60,596 shares in the last quarter. Russell Investments Group Ltd. raised its stake in First Community by 41.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 79,083 shares of the bank's stock worth $2,232,000 after buying an additional 23,070 shares during the period. Finally, Jane Street Group LLC raised its stake in First Community by 63.7% during the 1st quarter. Jane Street Group LLC now owns 51,323 shares of the bank's stock worth $1,158,000 after buying an additional 19,978 shares during the period. 61.25% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "buy (b)" rating on shares of First Community in a report on Friday. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $34.00.

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.

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