First Community Bankshares (NASDAQ:FCBC) Issues Quarterly Earnings Results

First Community Bankshares (NASDAQ:FCBC – Get Rating) announced its quarterly earnings results on Tuesday. The bank reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78, Yahoo Finance reports. First Community Bankshares had a net margin of 30.49% and a return on equity of 10.32%. The firm had revenue of $40.17 million during the quarter, compared to analysts’ expectations of $38.70 million.

First Community Bankshares Stock Performance

Shares of NASDAQ:FCBC traded down $0.21 during trading on Wednesday, reaching $32.71. The stock had a trading volume of 14,237 shares, compared to its average volume of 19,464. The firm’s fifty day moving average is $35.11 and its 200 day moving average is $33.78. First Community Bankshares has a 52 week low of $26.51 and a 52 week high of $39.39. The stock has a market cap of $536.77 million, a price-to-earnings ratio of 12.30 and a beta of 0.54.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FCBC. Piper Sandler restated an “underweight” rating and issued a $37.00 price target on shares of First Community Bankshares in a research report on Monday, December 5th. StockNews.com started coverage on shares of First Community Bankshares in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

Institutional Investors Weigh In On First Community Bankshares

A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in First Community Bankshares by 114.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,323 shares of the bank’s stock worth $43,000 after acquiring an additional 706 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in First Community Bankshares by 254.8% during the first quarter. Great West Life Assurance Co. Can now owns 1,788 shares of the bank’s stock worth $52,000 after acquiring an additional 1,284 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in First Community Bankshares by 49.8% during the second quarter. BNP Paribas Arbitrage SA now owns 4,880 shares of the bank’s stock worth $144,000 after acquiring an additional 1,622 shares in the last quarter. BNP Paribas Arbitrage SNC boosted its stake in First Community Bankshares by 19.6% during the third quarter. BNP Paribas Arbitrage SNC now owns 5,836 shares of the bank’s stock worth $187,000 after acquiring an additional 956 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in First Community Bankshares by 6.3% during the second quarter. Legal & General Group Plc now owns 7,266 shares of the bank’s stock worth $213,000 after acquiring an additional 429 shares in the last quarter. 37.40% of the stock is owned by institutional investors.

About First Community Bankshares

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First Community Bankshares, Inc operates as the financial holding company for First Community Bank that provides various banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement arrangements; commercial, consumer, and real estate mortgage loans, as well as lines of credit; various credit and debit cards, and automated teller machine card services; and corporate and personal trust services.