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

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

First Community Bancshares Stock Performance

FCBC stock traded down $1.00 during midday trading on Tuesday, reaching $47.36. 115,921 shares of the company were exchanged, compared to its average volume of 86,063. The company has a market cap of $895.58 million, a price-to-earnings ratio of 14.94 and a beta of 0.49. First Community Bancshares has a 1-year low of $31.21 and a 1-year high of $50.17. The stock’s 50-day simple moving average is $48.11 and its 200 day simple moving average is $43.51.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings raised First Community Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, October 16th. Zacks Research upgraded First Community Bancshares to a “hold” rating in a research report on Wednesday, July 1st. Finally, Raymond James Financial initiated coverage on First Community Bancshares in a research note on Tuesday, June 30th. They issued a “market perform” rating for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold”.

Insiders Place Their Bets

In other First Community Bancshares news, 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 completion of the sale, the president directly owned 5,798 shares of the company’s stock, valued at $276,390.66. This represents a 37.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sarah W. Harmon sold 4,329 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $49.21, for a total value of $213,030.09. Following the sale, the senior vice president directly owned 8,141 shares of the company’s stock, valued at approximately $400,618.61. This represents a 34.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.66% of the stock is owned by insiders.

About First Community Bancshares

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.