First Community (NASDAQ:FCCO) Announces Earnings Results

First Community (NASDAQ:FCCO) posted its quarterly earnings data on Wednesday. The bank reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.15, Zacks reports. First Community had a return on equity of 13.00% and a net margin of 17.29%.

First Community Stock Down 2.0%

NASDAQ FCCO traded down $0.66 on Wednesday, hitting $31.58. 15,540 shares of the stock traded hands, compared to its average volume of 79,255. The company has a market capitalization of $296.85 million, a P/E ratio of 12.27 and a beta of 0.34. The stock has a 50-day moving average of $31.52 and a 200 day moving average of $30.27. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.07. First Community has a twelve month low of $24.12 and a twelve month high of $34.01.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of First Community in a research note on Friday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.00.

Hedge Funds Weigh In On First Community

Several large investors have recently added to or reduced their stakes in FCCO. Advisory Services Network LLC acquired a new position in shares of First Community in the 3rd quarter valued at about $26,000. BNP Paribas Financial Markets raised its stake in First Community by 324.2% during the second quarter. BNP Paribas Financial Markets now owns 1,349 shares of the bank’s stock worth $33,000 after acquiring an additional 1,031 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in First Community in the second quarter worth about $99,000. New York State Common Retirement Fund bought a new stake in shares of First Community in the 2nd quarter worth approximately $102,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of First Community in the 2nd quarter worth about $182,000. 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.