First Community Bancshares (NASDAQ:FCBC) Announces Quarterly Earnings Results
First Community Bancshares (NASDAQ:FCBC) reported quarterly earnings of $0.70 per share, exceeding analysts' expectations of $0.63. The bank achieved a net margin of 27.07% and a return on equity of 9.68%. Following the announcement, FCBC stock rose by 1.1% to $33.32. Institutional investors have increased their stakes in the bank, with hedge funds owning 34.95% of the stock. Analysts maintain a "hold" rating on FCBC, with one research analyst suggesting it may not be the best investment compared to other stocks.
First Community Bancshares (NASDAQ:FCBC - Get Free Report) posted its earnings results on Tuesday. The bank reported $0.70 EPS for the quarter, topping the consensus estimate of $0.63 by $0.07, Zacks reports. First Community Bancshares had a net margin of 27.07% and a return on equity of 9.68%.
First Community Bancshares Trading Up 1.1%
FCBC stock traded up $0.35 on Tuesday, hitting $33.32. 34,929 shares of the company's stock traded hands, compared to its average volume of 43,405. First Community Bancshares has a 1-year low of $31.74 and a 1-year high of $49.02. The stock has a market cap of $610.26 million, a price-to-earnings ratio of 12.21 and a beta of 0.64. The stock has a fifty day moving average of $35.61 and a 200-day moving average of $37.47.
Institutional Investors Weigh In On First Community Bancshares
Several hedge funds have recently made changes to their positions in FCBC. BNP Paribas Financial Markets lifted its position in shares of First Community Bancshares by 56.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,608 shares of the bank's stock valued at $63,000 after acquiring an additional 577 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of First Community Bancshares by 656.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,963 shares of the bank's stock valued at $155,000 after acquiring an additional 3,439 shares in the last quarter. Osaic Holdings Inc. lifted its position in shares of First Community Bancshares by 10.5% in the 2nd quarter. Osaic Holdings Inc. now owns 5,265 shares of the bank's stock valued at $206,000 after acquiring an additional 499 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of First Community Bancshares in the 2nd quarter valued at approximately $343,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of First Community Bancshares in the 2nd quarter valued at approximately $360,000. Hedge funds and other institutional investors own 34.95% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of First Community Bancshares in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, First Community Bancshares currently has an average rating of "Hold".
Read Our Latest Report on First Community Bancshares
About First Community Bancshares
(Get Free Report)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 plans; and commercial, consumer real estate, and consumer and other loans.
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