First Community Bankshares Q4 net income falls

Overview

• Financial holding company's Q4 net income fell 4.41% yr/yr

• Adjusted net income for Q4 rose 8.56% yr/yr

• Company completed acquisition of Hometown Bancshares on Jan. 23

Outlook

• Company did not provide specific guidance for future quarters or the full year in press release

Result Drivers

• NET INTEREST MARGIN - Net interest margin improved to 4.53% due to consistent asset yields and reduced cost of interest-bearing liabilities

• NONINTEREST INCOME - Noninterest income rose by 10.57%, driven by increased service charges on deposits and other fees

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "hold"

• 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 $38.00, about 12% above its January 26 closing price of $33.94

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Press Release: ID:nGNX2HRQd8

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