FVCBankcorp, Inc. (NASDAQ:FVCB) Expected to Post Quarterly Sales of $16.53 Million
Stock analysts expect FVCBankcorp, Inc. (NASDAQ:FVCB – Get Rating) to post sales of $16.53 million in the current fiscal quarter, reports Zacks Investment Research. Two analysts provided earnings estimates for FVCBankcorp, with the lowest sales estimate of $16.42 million and the highest estimate of $16.64 million. FVCBankcorp recorded sales of $14.83 million in the same quarter last year, suggesting a positive year-over-year growth rate of 11.5%. The company is due to announce its next quarterly earnings report on Monday, January 1.
On average, analysts expect FVCBankcorp to report annual revenue of $68.70 million for the current fiscal year, with estimates ranging from $68.30 to $69.10 million. For the next fiscal year, analysts expect the company to record sales of $76.67 million, with estimates ranging from $76.60 to $76.74 million. Zacks’ sell calculations are an average based on a survey of sell-side analysts who provide coverage for FVCBankcorp.
FVCBankcorp (NASDAQ:FVCB – Get Rating) last released its quarterly results on Wednesday, January 26. The company reported earnings per share of $0.45 for the quarter, beating the consensus estimate of $0.37 by $0.08. The company had revenue of $17.00 million in the quarter, versus a consensus estimate of $17.02 million. FVCBankcorp had a return on equity of 11.59% and a net margin of 30.16%.
Several research companies have weighed in on FVCB. Zacks Investment Research upgraded FVCBankcorp from a “hold” rating to a “buy” rating and set a price target of $23.00 on the stock in a report released Tuesday. Piper Sandler reaffirmed an “overweight” rating and issued a price target of $23.50 on FVCBankcorp shares in a Tuesday, February 1, report. Finally, Raymond James upgraded FVCBankcorp from an ‘outperform’ rating to a ‘strong buy’ rating and raised its price target for the company from $23.00 to $25.00 in a Monday report. January 24.
In other news, insider William G. Byers sold 2,000 shares of the company in a trade that took place on Thursday, February 17. The stock was sold at an average price of $20.79, for a total value of $41,580.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, director Daniel M. Testa sold 10,108 shares of the company in a trade that took place on Wednesday, February 2. The shares were sold at an average price of $21.04, for a total value of $212,672.32. The disclosure of this sale can be found here. During the last quarter, insiders sold 33,592 shares of the company worth $701,954. Company insiders hold 21.55% of the company’s shares.
A number of large investors have recently changed their positions in FVCB. Royal Bank of Canada increased its stake in FVCBankcorp by 24.5% during the second quarter. Royal Bank of Canada now owns 9,954 shares of the company valued at $172,000 after buying an additional 1,962 shares in the last quarter. Millennium Management LLC bought a new stock position in FVCBankcorp in the second quarter worth $1,323,000. Grant GrossMendelsohn LLC bought a new position in FVCBankcorp stock in the third quarter worth $201,000. Barclays PLC increased its stake in FVCBankcorp shares by 1,669.1% in the third quarter. Barclays PLC now owns 30,198 shares in the company worth $604,000 after buying a further 28,491 shares in the last quarter. Finally, Alliancebernstein LP increased its equity stake in FVCBankcorp by 1.7% in the third quarter. Alliancebernstein LP now owns 450,688 shares of the company worth $9,014,000 after purchasing an additional 7,691 shares in the last quarter. Institutional investors and hedge funds hold 29.72% of the company’s shares.
FVCB shares opened at $19.82 on Friday. The stock’s 50-day simple moving average is $20.81 and its 200-day simple moving average is $20.43. The stock has a market capitalization of $276.11 million, a price-earnings ratio of 13.21 and a beta of 0.31. The company has a debt ratio of 0.22, a quick ratio of 0.93 and a current ratio of 0.93. FVCBankcorp has a 52-week low of $16.18 and a 52-week high of $21.49.
FVCBankcorp Company Profile (Get a rating)
FVCBankcorp, Inc operates as a bank holding company, which engages in the provision of commercial banking services. The company also offers online banking, mobile banking and remote deposit service. It serves small and medium-sized businesses, professionals, non-profit organizations and associations, and investors residing and working in and near its service area.
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