First Community Bankshares (NASDAQ:FCBC) Downgraded to “Sell” at StockNews.com

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

First Community Bankshares Stock Performance

Shares of NASDAQ:FCBC opened at $32.81 on Friday. The company has a market cap of $606.00 million, a P/E ratio of 12.06 and a beta of 0.52. The stock’s 50-day moving average is $32.78 and its 200-day moving average is $33.81. First Community Bankshares has a 52-week low of $22.55 and a 52-week high of $39.23.

First Community Bankshares (NASDAQ:FCBC) last announced its quarterly earnings data 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. First Community Bankshares had a net margin of 27.50% and a return on equity of 11.20%. The company had revenue of $42.53 million during the quarter, compared to analysts’ expectations of $41.98 million. As a group, equities analysts predict that First Community Bankshares will post 2.38 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Panagora Asset Management Inc. bought a new stake in First Community Bankshares in the third quarter valued at approximately $929,000. Axxcess Wealth Management LLC bought a new position in First Community Bankshares in the fourth quarter valued at about $730,000. Vanguard Group Inc. boosted its position in First Community Bankshares by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 789,887 shares of the bank’s stock worth $23,262,000 after buying an additional 12,742 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of First Community Bankshares in the fourth quarter worth $462,000. Finally, SG Americas Securities LLC bought a new stake in First Community Bankshares in the third quarter valued at approximately $242,000. Institutional investors own 34.95% of the company’s stock.

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 plans; and commercial, consumer real estate, and consumer and other loans.