First Community (NASDAQ:FCCO) Posts Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Q4 EPS beat: First Community reported EPS of $0.72, beating analysts' consensus of $0.63 by $0.09, with a net margin of 16.85% and a return on equity of 12.71%.
• Dividend maintained: The firm paid a $0.16 quarterly dividend (annualized $0.64) for a 2.1% yield and a payout ratio of 25.91%.
• Stock and market view: Shares traded up to $30.80, the company has a $289M market cap and a P/E of 12.45, analysts hold a "Moderate Buy" consensus with a $34 average target, and institutional ownership stands at 61.25% with several funds recently increasing positions.

First Community (NASDAQ:FCCO - Get Free Report) issued its quarterly earnings results on Wednesday. The bank reported $0.72 earnings per share for the quarter, topping 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 Price Performance

Shares of NASDAQ FCCO traded up $0.58 during midday trading on Wednesday, reaching $30.80. The company's stock had a trading volume of 8,500 shares, compared to its average volume of 71,018. 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 50 day moving average price of $29.44 and a 200 day moving average price of $29.02. First Community has a one year low of $21.80 and a one year high of $31.51. The company has a market cap of $289.02 million, a price-to-earnings ratio of 12.45 and a beta of 0.34.

First Community Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 24th. Investors of record on Tuesday, February 10th were 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 was Tuesday, February 10th. First Community's payout ratio is presently 25.91%.

Wall Street Analyst Weigh In

A number of analysts recently commented on FCCO shares. Weiss Ratings reiterated a "buy (b)" rating on shares of First Community in a report on Thursday, January 22nd. Hovde Group boosted their target price on shares of First Community from $32.00 to $34.00 and gave the stock 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 company. Based on data from MarketBeat, First Community presently has a consensus rating of "Moderate Buy" and an average target price of $34.00.

Institutional Trading of First Community

A number of hedge funds and other institutional investors have recently made changes to their positions in FCCO. Millennium Management LLC raised its holdings in shares of First Community by 115.5% during the first 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 period. Dimensional Fund Advisors LP raised its holdings in shares of First Community by 7.5% during the fourth 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 period. Geode Capital Management LLC raised its holdings in shares of First Community by 103.4% during the second 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 period. State Street Corp raised its holdings in shares of First Community by 11.5% during the fourth 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 period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of First Community by 199.8% during the first 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 period. 61.25% of the stock is currently owned by institutional investors.

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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