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

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

Shares of NASDAQ FCBC opened at $33.18 on Thursday. The firm has a 50 day simple moving average of $33.28. First Community Bankshares has a fifty-two week low of $27.06 and a fifty-two week high of $36.48. The firm has a market capitalization of $522.82 million, a price-to-earnings ratio of 14.62 and a beta of 0.67.

First Community Bankshares (NASDAQ:FCBC) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.52 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.52. First Community Bankshares had a net margin of 29.57% and a return on equity of 11.11%. The business had revenue of $30.27 million for the quarter.

Large investors have recently modified their holdings of the business. Meeder Asset Management Inc. increased its stake in First Community Bankshares by 135.2% in the first quarter. Meeder Asset Management Inc. now owns 755 shares of the bank’s stock valued at $25,000 after purchasing an additional 434 shares in the last quarter. Advisor Group Inc. bought a new stake in First Community Bankshares in the fourth quarter valued at approximately $71,000. Legal & General Group Plc increased its stake in First Community Bankshares by 15.2% in the fourth quarter. Legal & General Group Plc now owns 2,758 shares of the bank’s stock valued at $86,000 after purchasing an additional 364 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in First Community Bankshares by 300.5% in the first quarter. BNP Paribas Arbitrage SA now owns 3,276 shares of the bank’s stock valued at $109,000 after purchasing an additional 2,458 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in First Community Bankshares in the first quarter valued at approximately $143,000. 41.93% of the stock is owned by hedge funds and other institutional investors.

About First Community Bankshares

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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