BidaskClub Lowers First Community Bankshares (NASDAQ:FCBC) to Strong Sell

BidaskClub downgraded shares of First Community Bankshares (NASDAQ:FCBC) from a sell rating to a strong sell rating in a research report sent to investors on Tuesday, BidAskClub reports.

Shares of First Community Bankshares stock opened at $32.32 on Tuesday. The firm’s 50-day simple moving average is $32.28 and its 200-day simple moving average is $33.11. First Community Bankshares has a twelve month low of $27.06 and a twelve month high of $36.48. The firm has a market cap of $502.58 million, a P/E ratio of 14.03 and a beta of 0.62.

First Community Bankshares (NASDAQ:FCBC) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. First Community Bankshares had a net margin of 30.26% and a return on equity of 11.07%. The business had revenue of $31.64 million for the quarter.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its position in shares of First Community Bankshares by 68.1% during the 2nd quarter. Bank of Montreal Can now owns 3,179 shares of the bank’s stock valued at $107,000 after acquiring an additional 1,288 shares in the last quarter. Gratus Capital LLC acquired a new stake in shares of First Community Bankshares during the 2nd quarter valued at about $216,000. Stone Ridge Asset Management LLC boosted its position in shares of First Community Bankshares by 6.6% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 8,066 shares of the bank’s stock valued at $272,000 after acquiring an additional 500 shares in the last quarter. Bank of America Corp DE boosted its position in shares of First Community Bankshares by 17.9% during the 2nd quarter. Bank of America Corp DE now owns 18,918 shares of the bank’s stock valued at $638,000 after acquiring an additional 2,866 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of First Community Bankshares by 28.5% during the 2nd quarter. Acadian Asset Management LLC now owns 48,411 shares of the bank’s stock valued at $1,634,000 after acquiring an additional 10,748 shares in the last quarter. Institutional investors and hedge funds own 41.64% of the company’s stock.

First Community Bankshares Company Profile

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.

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