First Community Bankshares (NASDAQ:FCBC) Downgraded by StockNews.com to Sell

StockNews.com cut shares of First Community Bankshares (NASDAQ:FCBC) from a hold rating to a sell rating in a research note published on Friday.

First Community Bankshares Trading Down 0.9 %

NASDAQ FCBC opened at $32.81 on Friday. The stock has a market cap of $606.00 million, a P/E ratio of 12.06 and a beta of 0.52. The stock’s fifty day moving average price is $32.78 and its 200-day moving average price is $33.81. First Community Bankshares has a 12 month low of $22.55 and a 12 month high of $39.23.

First Community Bankshares (NASDAQ:FCBC) last announced its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.12. The firm had revenue of $42.53 million for the quarter, compared to the consensus estimate of $41.98 million. First Community Bankshares had a net margin of 27.50% and a return on equity of 11.20%. As a group, analysts forecast that First Community Bankshares will post 2.38 earnings per share for the current fiscal year.

Institutional Trading of First Community Bankshares

Several large investors have recently modified their holdings of the company. Panagora Asset Management Inc. bought a new position in shares of First Community Bankshares in the 3rd quarter worth approximately $929,000. Axxcess Wealth Management LLC bought a new position in shares of First Community Bankshares during the 4th quarter valued at approximately $730,000. Vanguard Group Inc. increased its holdings in First Community Bankshares by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 789,887 shares of the bank’s stock worth $23,262,000 after acquiring an additional 12,742 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of First Community Bankshares during the 4th quarter valued at $462,000. Finally, SG Americas Securities LLC purchased a new position in shares of First Community Bankshares in the third quarter valued at about $242,000. Institutional investors own 34.95% 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 plans; and commercial, consumer real estate, and consumer and other loans.