First Community Bancshares (NASDAQ:FCBC) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• Quarterly results: First Community Bancshares reported EPS of $0.73, beating the $0.72 consensus by $0.01, and reported revenue of $78.05 million versus analysts' $44.20 million, with a 10.17% return on equity and 26.32% net margin.
• Market reaction and valuation: the stock traded up 0.9% to $43.74 after the release, with a market cap of $834.6M, a P/E of 16.44, and 50-/200-day moving averages of $41.15 and $36.69.
• Investor and analyst interest: several institutions boosted or initiated positions (AQR up 87.3%, Jane Street opened a new ~$976k stake) and Weiss Ratings upgraded FCBC from "hold (c+)" to "buy (b-)," leaving an average MarketBeat rating of "Buy".

First Community Bancshares (NASDAQ:FCBC - Get Free Report) released its earnings results on Tuesday. The bank reported $0.73 EPS for the quarter, topping the consensus estimate of $0.72 by $0.01, FiscalAI reports. First Community Bancshares had a return on equity of 10.17% and a net margin of 26.32%.The business had revenue of $78.05 million during the quarter, compared to analysts' expectations of $44.20 million.

First Community Bancshares Trading Up 0.9%

NASDAQ FCBC traded up $0.37 during trading hours on Tuesday, hitting $43.74. 62,086 shares of the company's stock were exchanged, compared to its average volume of 77,202. The stock has a 50-day simple moving average of $41.15 and a 200 day simple moving average of $36.69. First Community Bancshares has a 1-year low of $31.21 and a 1-year high of $45.10. The firm has a market cap of $834.56 million, a price-to-earnings ratio of 16.44 and a beta of 0.48.

Institutional Investors Weigh In On First Community Bancshares

A number of hedge funds have recently added to or reduced their stakes in FCBC. AQR Capital Management LLC grew its stake in First Community Bancshares by 87.3% in the first quarter. AQR Capital Management LLC now owns 18,145 shares of the bank's stock valued at $684,000 after acquiring an additional 8,457 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in First Community Bancshares by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,124 shares of the bank's stock valued at $382,000 after acquiring an additional 474 shares during the period. Jane Street Group LLC acquired a new stake in First Community Bancshares in the first quarter valued at approximately $976,000. Legal & General Group Plc grew its stake in First Community Bancshares by 17.4% in the second quarter. Legal & General Group Plc now owns 16,659 shares of the bank's stock valued at $653,000 after acquiring an additional 2,468 shares during the period. Finally, American Century Companies Inc. grew its stake in First Community Bancshares by 6.7% in the second quarter. American Century Companies Inc. now owns 41,198 shares of the bank's stock valued at $1,614,000 after acquiring an additional 2,582 shares during the period. Institutional investors and hedge funds own 34.95% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised First Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, First Community Bancshares presently has an average rating of "Buy".

First Community Bancshares Company Profile

First Community Bancshares, Inc NASDAQ: FCBC is a bank holding company headquartered in Mebane, North Carolina, that delivers banking and financial services through its wholly owned subsidiary, First Community Bank. The company’s core focus is on relationship-driven community banking, offering clients a blend of personalized service and competitive digital banking capabilities. It serves a diverse clientele that includes individuals, families, small and mid-sized businesses, nonprofit organizations and professional practices.

The bank provides a broad spectrum of deposit products, such as checking, savings, money market and certificate of deposit accounts, alongside treasury management and payment processing solutions.

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