First Community Bankshares Q2 net income more than doubles on stake sale
FCBC•Outlook
- Company did not provide specific guidance or outlook for future quarters or the full year
Overview
- US regional bank's Q2 adjusted EPS rose 13% yr/yr
- Net income for Q2 more than doubled, driven by Bearing Insurance stake sale
- Company raised quarterly dividend by 6% to $0.33 per share
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Adjusted EPS | Beat | $0.76 | $0.74 (2 Analysts) |
| Q2 EPS | $1.19 | ||
| Q2 Adjusted Net Income | Beat | $14.39 mln | $13.49 mln (1 Analyst) |
| Q2 Net Income | $22.51 mln | ||
| Q2 Net Interest Income | $34.88 mln | ||
| Q2 Pretax Profit | $29.17 mln |
Analyst coverage
- The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
- The average consensus recommendation for the banks peer group is "buy"
- Wall Street's median 12-month price target for First Community Bankshares Inc is $45.00, about 0.8% above its July 20 closing price of $44.66
