First Community Bankshares Q2 net income more than doubles on stake sale

First Community Bankshares

21/07/2026 21:18

    

    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

    

    Outlook
  
Company did not provide specific guidance or outlook for future quarters or the full year

    

    Result Drivers
  
BEARING INSURANCE SALE - Q2 net income included a $10.39 mln pre-tax gain from the sale of the company's stake in Bearing Insurance
NET INTEREST INCOME - Higher net interest income was driven by increased average earning assets and lower funding cost yields, aided by the Hometown Bancshares acquisition
NONINTEREST INCOME - Noninterest income rose mainly due to the Bearing Insurance gain

    
Company press release: ID:nGNX8mvm0Y

    

    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
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago

    

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July 20 - WR Berkley’s Q2 ex comp rate increase slows to 3.8% in ‘fragmented market’: CEO

    
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)