First Community Bancshares (NASDAQ:FCBC) Earns Hold (C+) Rating from Weiss Ratings

Key Points

• First Community Bancshares (NASDAQ:FCBC) received a "hold (C+)" rating from Weiss Ratings, indicating a neutral outlook on the stock.
• The bank reported better-than-expected earnings, with $0.67 EPS against a consensus estimate of $0.65, contributing to a revenue of $41 million for the quarter.
• Institutional investors and hedge funds hold approximately 34.95% of First Community Bancshares' stock, with significant increases from several major firms in recent months.

First Community Bancshares (NASDAQ:FCBC - Get Free Report)'s stock had its "hold (c+)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

First Community Bancshares Price Performance

Shares of NASDAQ:FCBC opened at $33.85 on Wednesday. The business's fifty day moving average price is $36.39 and its two-hundred day moving average price is $37.89. First Community Bancshares has a fifty-two week low of $32.81 and a fifty-two week high of $49.02. The stock has a market capitalization of $620.13 million, a price-to-earnings ratio of 12.40 and a beta of 0.64.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. First Community Bancshares had a return on equity of 9.68% and a net margin of 27.07%.The firm had revenue of $41.00 million for the quarter, compared to analysts' expectations of $40.60 million.

Hedge Funds Weigh In On First Community Bancshares

Several hedge funds have recently added to or reduced their stakes in the stock. Heartwood Wealth Advisors LLC acquired a new position in First Community Bancshares in the third quarter valued at about $37,000. Osaic Holdings Inc. lifted its stake in First Community Bancshares by 10.5% in the second quarter. Osaic Holdings Inc. now owns 5,265 shares of the bank's stock valued at $206,000 after buying an additional 499 shares during the period. Orion Porfolio Solutions LLC raised its position in shares of First Community Bancshares by 14.8% during the second quarter. Orion Porfolio Solutions LLC now owns 21,605 shares of the bank's stock worth $846,000 after purchasing an additional 2,788 shares during the period. Tower Research Capital LLC TRC raised its position in shares of First Community Bancshares by 656.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,963 shares of the bank's stock worth $155,000 after purchasing an additional 3,439 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of First Community Bancshares by 56.0% during the second quarter. BNP Paribas Financial Markets now owns 1,608 shares of the bank's stock worth $63,000 after purchasing an additional 577 shares during the period. Institutional investors and hedge funds own 34.95% of the company's stock.

About First Community Bancshares

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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