First Community Bancshares (NASDAQ:FCBC) Posts Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• First Community Bancshares beat quarterly earnings expectations: EPS was $0.78 versus the $0.77 consensus, while revenue reached $48.51 million, above estimates of $47.19 million.
• FCBC shares declined to $47.45 during Tuesday trading, though the stock remains near its 52-week high of $50.17 and has a market capitalization of approximately $897 million.
• Analyst sentiment remains cautious, with one Buy rating and two Hold ratings producing a consensus rating of Hold. Two company executives also recently sold shares, reducing their individual holdings by more than one-third.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) announced its quarterly earnings data on Tuesday. The bank reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.77 by $0.01, FiscalAI reports. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.67%. The firm had revenue of $48.51 million during the quarter, compared to analysts' expectations of $47.19 million.

First Community Bancshares Stock Performance

FCBC stock traded down $0.91 during mid-day trading on Tuesday, reaching $47.45. The company had a trading volume of 115,921 shares, compared to its average volume of 86,063. The company has a market capitalization of $897.28 million, a price-to-earnings ratio of 14.97 and a beta of 0.49. The firm has a fifty day simple moving average of $48.11 and a 200 day simple moving average of $43.51. First Community Bancshares has a fifty-two week low of $31.21 and a fifty-two week high of $50.17.

Insider Activity

In related news, SVP Sarah W. Harmon sold 4,329 shares of the company's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $49.21, for a total transaction of $213,030.09. Following the sale, the senior vice president directly owned 8,141 shares in the company, valued at approximately $400,618.61. This represents a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gary R. Mills sold 3,500 shares of the company's stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.67, for a total transaction of $166,845.00. Following the sale, the president owned 5,798 shares in the company, valued at $276,390.66. The trade was a 37.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 3.66% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FCBC shares. Raymond James Financial assumed coverage on shares of First Community Bancshares in a report on Tuesday, June 30th. They set a "market perform" rating on the stock. Zacks Research upgraded shares of First Community Bancshares to a "hold" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings raised First Community Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 16th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold".

First Community Bancshares Company Profile

First Community Bancshares, Inc is a bank holding company headquartered in Bluefield, Virginia. Its principal subsidiary, First Community Bank, provides community banking services to individuals, families, businesses and organizations.

The bank offers a range of deposit products, including checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential mortgages, home equity loans, consumer loans, commercial and industrial financing, commercial real estate loans and other credit products for businesses and communities.

First Community Bank also provides services such as online and mobile banking, treasury management, investment and wealth management services, and other financial solutions.

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