FCBC
First Community Bankshares, Inc.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. The company
2-Year Price History
Quarterly Financials & Projections
| Period | Rev | EBITDA | OpIn | NI | OCF | FCF | CapEx | Cash | Debt | Shares | ROIC | IntCov | EV/EBITDA | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Est | 2027-Q4 | 47.5 | 18.5 | -- | 13.5 | -- | 16.2 | -1.0 | 983.3 | -- | -- | -- | -- | -- |
| Est | 2027-Q3 | 47.0 | 18.3 | -- | 13.4 | -- | 15.5 | -0.7 | 967.1 | -- | -- | -- | -- | -- |
| Est | 2027-Q2 | 46.5 | 17.9 | -- | 13.0 | -- | 14.9 | -0.8 | 951.6 | -- | -- | -- | -- | -- |
| Est | 2027-Q1 | 46.0 | 17.5 | -- | 12.7 | -- | 13.8 | -1.0 | 936.7 | -- | -- | -- | -- | -- |
| Est | 2026-Q4 | 46.2 | 17.6 | -- | 12.7 | -- | 15.0 | -0.9 | 922.9 | -- | -- | -- | -- | -- |
| Est | 2026-Q3 | 45.8 | 17.2 | -- | 12.4 | -- | 14.2 | -0.8 | 907.9 | -- | -- | -- | -- | -- |
| Est | 2026-Q2 | 45.0 | 16.7 | -- | 11.9 | -- | 13.5 | -0.9 | 893.7 | -- | -- | -- | -- | -- |
| Est | 2026-Q1 | 44.2 | 16.1 | -- | 11.5 | -- | 12.4 | -1.1 | 880.2 | -- | -- | -- | -- | -- |
| Act | 2026-Q1 | 44.6 | 15.6 | 15.6 | 12.0 | -11.4 | -12.5 | -1.2 | 867.8 | 3.2 | 19.0 | 24.6% | 3.5x | -- |
| Act | 2025-Q4 | 43.5 | 16.1 | 16.1 | 12.5 | 20.4 | 17.9 | -2.5 | 644.9 | 1.2 | 18.4 | 28.5% | 4.1x | -- |
| Act | 2025-Q3 | 43.9 | 17.2 | 15.9 | 12.3 | 19.0 | 18.5 | -0.4 | 184.0 | 1.4 | 18.4 | 26.0% | 3.9x | 8.0x |
| Act | 2025-Q2 | 43.3 | 17.3 | 15.8 | 12.3 | 10.2 | 10.0 | -0.2 | 117.5 | 1.0 | 18.4 | 26.8% | 3.7x | 8.1x |
| Act | 2025-Q1 | 42.9 | 16.8 | 15.3 | 11.8 | 13.2 | 12.1 | -1.1 | 184.3 | 0.9 | 18.5 | 26.4% | 3.5x | 7.9x |
| Act | 2024-Q4 | 44.5 | 18.1 | 16.5 | 13.0 | 14.9 | 14.8 | -0.2 | 216.7 | 0.9 | 18.4 | 24.6% | 3.5x | 7.6x |
| Act | 2024-Q3 | 44.9 | 18.1 | 16.5 | 13.0 | 11.4 | 10.9 | -0.5 | 257.6 | 1.0 | 18.4 | 24.8% | 3.4x | 5.9x |
| Act | 2024-Q2 | 43.7 | 17.9 | 16.2 | 12.7 | 14.5 | 14.1 | -0.4 | 207.0 | 0.9 | 18.3 | 25.2% | 3.7x | 5.6x |
| Act | 2024-Q1 | 42.8 | 18.1 | 16.5 | 12.9 | 16.9 | 15.2 | -1.8 | 235.2 | 1.0 | 18.5 | 25.4% | 4.1x | 6.6x |
| Act | 2023-Q4 | 44.2 | 16.3 | 14.7 | 11.8 | 15.0 | 14.5 | -0.5 | 360.1 | 1.1 | 18.6 | 23.4% | 4.1x | 2.9x |
| Act | 2023-Q3 | 43.4 | 20.5 | 19.0 | 14.6 | 19.1 | 18.7 | -0.3 | 348.5 | 1.0 | 18.8 | 29.7% | 7.4x | 3.3x |
| Act | 2023-Q2 | 41.4 | 14.3 | 12.9 | 9.8 | 12.0 | 11.0 | -0.9 | 416.4 | 1.4 | 18.4 | 19.3% | 7.1x | 0.6x |
| Act | 2023-Q1 | 36.8 | 16.6 | 15.4 | 11.8 | 15.8 | 14.8 | -1.0 | 372.5 | 1.9 | 16.3 | 33.8% | 21.4x | 2.6x |
| Act | 2022-Q4 | 38.3 | 17.0 | 15.7 | 12.6 | 17.5 | 17.1 | -0.4 | 365.6 | 1.9 | 16.3 | 38.3% | 46.3x | 2.5x |
| Act | 2022-Q3 | 36.4 | 18.9 | 17.5 | 13.4 | 13.3 | 13.1 | -0.3 | 356.6 | 2.0 | 16.4 | 43.1% | 49.6x | -- |
| Act | 2022-Q2 | 34.3 | 16.1 | 14.6 | 11.2 | 17.8 | 17.5 | -0.3 | 344.4 | 2.6 | 16.7 | 33.9% | 38.0x | -- |
| Act | 2022-Q1 | 33.3 | 13.9 | 12.4 | 9.5 | 10.4 | 10.3 | -0.2 | 322.3 | 2.5 | 16.9 | 27.1% | 28.5x | -- |
Multiples vs the company's own history — cheap or rich relative to itself? Historical fiscal years, then TTM, then forward projections (E). Forward rows hold today's price against projected earnings, so the multiple compresses if the company grows into it.
| Year | Price | Rev Gr | EBITDA % | EBITDA | EV/EBITDA | EV/FCF | P/E | P/S |
|---|---|---|---|---|---|---|---|---|
| 2022 | 28.05 | — | 46.2% | 66 | 2.5× | 2.8× | 11.3× | 3.7× |
| 2023 | 31.90 | +16.5% | 40.8% | 68 | 2.9× | 3.3× | 11.5× | 3.3× |
| 2024 | 36.94 | +6.1% | 41.0% | 72 | 7.6× | 9.9× | 14.8× | 4.3× |
| 2025 | 32.48 | -1.4% | 38.9% | 67 | — | — | 12.9× | 3.6× |
| TTM | 43.11 | -0.4% | 37.9% | 66 | — | — | 0.0× | 0.0× |
| 2026E | 43.11 | +3.4% | 0.4% | 1 | — | — | 0.0× | 0.0× |
| 2027E | 43.11 | +3.2% | 0.4% | 1 | — | — | 0.0× | 0.0× |
EBITDA in reporting-currency $M. Historical multiples use year-end market cap (split-adjusted price history); TTM & forward years use today's.
AI Analysis
LLM Evaluations
FCBC is a well-run community bank with strong profitability metrics (ROIC ~28%, FCF margins ~34%) and a conservative balance sheet, but the stock faces multiple headwinds: NIM compression, stagnant organic growth, rising non-interest expenses, significant CRE exposure risk, and a widening digital gap vs. fintechs and larger banks. The Hometown acquisition provides a modest growth catalyst but introduces integration risk. At ~12x P/FCF and with an 11.7% trailing dividend yield (inflated by the $1.00 special dividend), valuation appears fair-to-slightly-cheap, but the lack of organic growth catalysts and structural competitive challenges for community banks limit upside. The elevated special dividend suggests management sees limited high-return reinvestment opportunities. Net insider buying is a mild positive, but the 37% surge in short interest signals growing bearish conviction. This is a hold — decent yield and stable cash flows, but no clear catalyst for re-rating higher.
Valuation & Metrics
Market Stats
TTM Financial Snapshot
DCF Fair Value Estimate
Forward Outlook & Risk
Short Interest
Options
| Strike | Call Bid/Ask | Call OI | Put Bid/Ask | Put OI |
|---|---|---|---|---|
| $30.00 | $8.00/$17.00 | 0 | --/$5.90 | 0 |
| $35.00 | $3.00/$12.20 | 0 | --/$4.80 | 0 |
| $40.00 | $0.05/$9.10 | 0 | --/$4.80 | 0 |
| $45.00 | --/$4.80 | 0 | $0.05/$9.00 | 0 |
| $50.00 | --/$4.80 | 0 | $3.00/$13.00 | 0 |
Forward Projections & Estimates
Employees
Institutional Ownership
Headline & net flow
In Q1 2026 so far (quarter still filing), institutions are net buyers — bought 2.2% of float, sold 0.7%.
Ownership composition
Top holders
| Fund | $ value | Cost basis | Δ QoQ | Δ YoY | α life | Fund AUM |
|---|---|---|---|---|---|---|
| BlackRock, Inc.Passive | $60.3M | $37.84 | −$679K | −$5.3M | -0.2% | $5.69T |
| DIMENSIONAL FUND ADVISORS LPPassive | $37.6M | $26.25 | −$82K | −$1.1M | -0.4% | $480.92B |
| VANGUARD CAPITAL MANAGEMENT LLCPassive | $32.9M | $41.52 | +$32.9M | +$32.9M | — | $4.04T |
| SYSTEMATIC FINANCIAL MANAGEMENT LP | $21.9M | $32.65 | −$370K | −$457K | -0.6% | $4.33B |
| GEODE CAPITAL MANAGEMENT, LLCPassive | $18.9M | $30.17 | +$628K | +$2.7M | +2.3% | $1.61T |
| STATE STREET CORPPassive | $17.4M | $30.09 | +$94K | +$114K | -0.2% | $2.89T |
| VANGUARD PORTFOLIO MANAGEMENT LLCPassive | $9.4M | $41.52 | +$9.4M | +$9.4M | — | $1.91T |
| NORTHERN TRUST CORPPassive | $6.3M | $32.01 | +$409K | −$283K | -0.2% | $755.34B |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $6.1M | $28.84 | +$94K | +$453K | +0.7% | $645.81B |
| MORGAN STANLEY | $5.8M | $28.27 | −$478K | +$122K | -0.3% | $1.65T |
| GOLDMAN SACHS GROUP INC | $5.6M | $34.86 | +$1.5M | +$3.8M | -0.2% | $760.93B |
| VANGUARD FIDUCIARY TRUST COPassive | $4.9M | $41.52 | +$4.9M | +$4.9M | — | $395.83B |
| AMERICAN CENTURY COMPANIES INC | $3.4M | $30.46 | −$43K | +$1.8M | +0.7% | $193.48B |
| State of New Jersey Common Pension Fund D | $3.2M | $34.51 | +$0 | +$860K | -0.4% | $25.91B |
| AQR CAPITAL MANAGEMENT LLC | $3.1M | $33.18 | −$58K | +$2.4M | -0.2% | $218.19B |
| RENAISSANCE TECHNOLOGIES LLC | $2.3M | $37.99 | +$1.0M | +$481K | +1.2% | $63.91B |
| Creative Planning | $2.3M | $34.85 | +$182K | +$1.7M | -0.7% | $144.46B |
| Bank of New York Mellon Corp | $2.0M | $27.80 | −$39K | −$1.8M | -0.2% | $543.21B |
| TWO SIGMA INVESTMENTS, LP | $1.7M | $34.62 | +$617K | +$1.7M | -0.9% | $117.03B |
| BANK OF AMERICA CORP /DE/ | $1.6M | $34.01 | +$721K | +$1.0M | -0.1% | $1.36T |
Trading behavior
▸ Compare to holder-profile behavior (across all their stocks)
Biggest decreases this quarter
New buyers this quarter
Top-5 holders · 61.5%
Top Holders Over Time
5-year share-count history (top 10 holders by peak, incl. exited) + price
Analyst Coverage
| Quarter | Revenue | EBITDA | Net Inc | EPS | EPS Range | # Analysts |
|---|---|---|---|---|---|---|
| 2025 Q3 | 40M | 17M | 12M | $0.63 | $0.63 – $0.63 | 1 |
| 2025 Q4 | 41M | 18M | 12M | $0.62 | $0.62 – $0.62 | 1 |
| 2026 Q1 | 44M | 19M | 14M | $0.72 | $0.72 – $0.72 | 1 |
| 2026 Q2 | 47M | 20M | 14M | $0.76 | $0.76 – $0.76 | 1 |
| 2026 Q3 | 47M | 20M | 14M | $0.75 | $0.75 – $0.75 | 1 |
| 2026 Q4 | 47M | 20M | 14M | $0.74 | $0.74 – $0.74 | 1 |
| 2027 Q1 | 47M | 20M | 14M | $0.76 | $0.76 – $0.76 | 1 |
| 2027 Q2 | 47M | 20M | 14M | $0.75 | $0.75 – $0.75 | 1 |
| 2027 Q3 | 47M | 20M | 14M | $0.75 | $0.75 – $0.75 | 1 |
| 2027 Q4 | 47M | 20M | 15M | $0.77 | $0.77 – $0.77 | 1 |
Corporate
Insider Trading (last 12mo)
| Date | Side | Insider | Title | Shares | Price | Dollars | Owned $ |
|---|---|---|---|---|---|---|---|
| 2026-01-30 | BUY | Bonnett Derek A | officer: Chief Risk Officer | 501 | $34.93 | $17K | $17K |
| 2025-08-01 | BUY | Brown David D | officer: Chief Financial Officer | 150 | $36.00 | $5K | $65K |
Order Flow (FINRA, ~3w lag)
Filing Risk Analysis
Filing Risk Scores
First Community Bankshares: Administrative Filing Lacks Material Red Flags Amid Limited Disclosure
Counter-Thesis
Counter-Thesis & Recent News
First Community Bankshares (FCBC) reported Q4 2025 net income of $12.46 million ($0.68 per share), a decline from $0.71 per share in Q4 2024, continuing a trend of flat to slightly negative earnings growth (Seeking Alpha, Jan 2026). On January 23, 2026, the company completed its $41.5 million acquisition of Hometown Bancshares, Inc., expanding its footprint to 60 branches but introducing significant integration risks in a volatile interest-rate environment (GlobeNewswire, Jan 2026).
The core bear case centers on severe Net Interest Margin (NIM) compression, which dropped from 31.8% to 29.1% year-over-year as of early 2026 (Simply Wall St). Critics argue that the bank's reliance on special dividends ($1.00 declared Dec 2025) is a 'curious behavior' for a small-cap bank with stagnant earnings and declining book value, potentially signaling a lack of internal growth opportunities (Seeking Alpha, Jan 2026). Additionally, the bank faces high exposure to Commercial Real Estate (CRE), where defaults are a growing threat due to sticky inflation and high mortgage rates.
Short interest in FCBC recently surged by 37.4%, indicating growing institutional conviction in a downward move (MarketBeat, March 2026). Technical 'sell' signals were triggered in February 2026 from a pivot top point and a bearish MACD crossover (StockInvest.us). Furthermore, non-interest expenses rose 6.66% in 2025, driven by the escalating costs of financial crime compliance and cybersecurity (DCFmodeling, 2025).
FCBC faces a 'massive technological challenge,' with surveys indicating 57% of younger customers are ready to switch banks for superior digital services (DCFmodeling, 2025). As a traditional community bank, it is struggling to compete with fintechs and larger national banks that offer more robust digital ecosystems; its own mobile tools are currently described by users as 'rudimentary' compared to peers like Bank of America (US Bank Locations, Feb 2026).
Sentiment is heavily weighed down by poor digital performance; the bank's mobile app holds a low 1.9/5 rating, with customers citing frequent login failures, broken biometric features, and 'horrible' user interfaces (Google Play/SmartAsset). Mortgage customers have also reported 'operational inefficiencies,' disorganized paperwork, and unexpected changes in loan terms close to closing (Tomo Mortgage Review, Feb 2025).