First Community Bankshares (NASDAQ:FCBC) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “First Community Bancshares, Inc. is a multi-state holding company headquartered in Bluefield, Virginia. The bank provides financial, mortgage brokerage and origination and trust services to individuals and commercial customers through full-service banking locations in West Virginia, Virginia and North Carolina as well as mortgage brokerage facilities operated by United First Mortgage, Inc. “

Several other equities research analysts have also recently issued reports on FCBC. TheStreet raised First Community Bankshares from a “c+” rating to a “b-” rating in a research note on Friday, February 5th. Piper Sandler raised First Community Bankshares from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $25.00 to $28.00 in a research report on Wednesday, February 3rd.

Shares of FCBC opened at $29.22 on Tuesday. First Community Bankshares has a 12-month low of $17.21 and a 12-month high of $30.90. The firm has a market capitalization of $515.47 million, a P/E ratio of 14.76 and a beta of 0.57. The firm has a 50-day moving average price of $28.21 and a 200 day moving average price of $23.02.

First Community Bankshares (NASDAQ:FCBC) last posted its earnings results on Monday, January 25th. The bank reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.13. The company had revenue of $35.45 million for the quarter, compared to analyst estimates of $34.29 million. First Community Bankshares had a net margin of 24.23% and a return on equity of 8.11%. As a group, equities analysts anticipate that First Community Bankshares will post 1.95 EPS for the current year.

A number of institutional investors have recently bought and sold shares of FCBC. BlackRock Inc. lifted its stake in First Community Bankshares by 1.6% during the fourth quarter. BlackRock Inc. now owns 1,583,564 shares of the bank’s stock worth $34,174,000 after purchasing an additional 25,302 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in First Community Bankshares by 22.4% during the 4th quarter. JPMorgan Chase & Co. now owns 143,039 shares of the bank’s stock worth $3,087,000 after acquiring an additional 26,204 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in First Community Bankshares by 8.5% during the 4th quarter. Bank of New York Mellon Corp now owns 130,198 shares of the bank’s stock valued at $2,810,000 after acquiring an additional 10,176 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in First Community Bankshares by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 105,766 shares of the bank’s stock valued at $2,283,000 after acquiring an additional 1,619 shares during the period. Finally, Nuveen Asset Management LLC grew its position in First Community Bankshares by 5.6% in the 4th quarter. Nuveen Asset Management LLC now owns 89,446 shares of the bank’s stock valued at $1,931,000 after acquiring an additional 4,767 shares in the last quarter. Hedge funds and other institutional investors own 37.82% 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 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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