Fintel reports that on June 28, 2024, Hovde Group initiated coverage of First Community Bankshares (NasdaqGS:FCBC) with a Market Perform recommendation.
Analyst Price Forecast Suggests 5.86% Downside
As of June 12, 2024, the average one-year price target for First Community Bankshares is 34.68. The forecasts range from a low of 34.34 to a high of $35.70. The average price target represents a decrease of 5.86% from its latest reported closing price of 36.84.
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The projected annual revenue for First Community Bankshares is 175MM, an increase of 8.80%. The projected annual non-GAAP EPS is 2.93.
What is the Fund Sentiment?
There are 241 funds or institutions reporting positions in First Community Bankshares. This is an decrease of 1 owner(s) or 0.41% in the last quarter. Average portfolio weight of all funds dedicated to FCBC is 0.03%, an increase of 4.33%. Total shares owned by institutions increased in the last three months by 0.16% to 7,190K shares. 
The put/call ratio of FCBC is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Systematic Financial Management holds 582K shares representing 3.17% ownership of the company. In its prior filing, the firm reported owning 595K shares , representing a decrease of 2.26%. The firm decreased its portfolio allocation in FCBC by 13.71% over the last quarter.
IWM - iShares Russell 2000 ETF holds 442K shares representing 2.41% ownership of the company. In its prior filing, the firm reported owning 491K shares , representing a decrease of 10.93%. The firm decreased its portfolio allocation in FCBC by 13.34% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 424K shares representing 2.31% ownership of the company. In its prior filing, the firm reported owning 423K shares , representing an increase of 0.26%. The firm decreased its portfolio allocation in FCBC by 14.68% over the last quarter.
Geode Capital Management holds 369K shares representing 2.01% ownership of the company. In its prior filing, the firm reported owning 360K shares , representing an increase of 2.38%. The firm decreased its portfolio allocation in FCBC by 15.46% over the last quarter.
VEXMX - Vanguard Extended Market Index Fund Investor Shares holds 256K shares representing 1.39% ownership of the company. In its prior filing, the firm reported owning 249K shares , representing an increase of 2.52%. The firm decreased its portfolio allocation in FCBC by 9.97% over the last quarter.
First Community Bankshares Background Information
(This description is provided by the company.)
First Community Bankshares, Inc., a financial holding company headquartered in Bluefield, Virginia, provides banking products and services through its wholly owned subsidiary First Community Bank. First Community Bank operated 50 branch banking locations in Virginia, West Virginia, North Carolina, and Tennessee as of December 31, 2020. First Community Bank offers wealth management andinvestment advicethrough its Trust Division and First Community Wealth Management, which collectively managed and administered $1.18 billion in combined assets as of December 31, 2020. The Company reported consolidated assets of $3.01 billion as of December 31, 2020.
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