Published on 21 Apr 2022 on Zacks via Yahoo Finance

FVCBankcorp (FVCB) Moves 7.4% Higher: Will This Strength Last?

FVCBankcorp (FVCB) shares rallied 7.4% in the last trading session to close at $21.35. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4.9% loss over the past four weeks.

FVCBankcorp witnessed a rise in share price for the second consecutive day. The performance of banks is expected improve in the quarters ahead on the back of rising interest rates. Last month, the Federal Reserve had hiked interest rates by 25 basis points for the first time since 2018 and signaled six more hikes this year to tame raging inflation. Also, there has been increasing expectation of announcement of a bigger rate hike in the next month’s FOMC meeting. This, thus, led to bullish investor sentiments, which drove FVCBankcorp stock higher.

This company is expected to post quarterly earnings of $0.40 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $16.53 million, up 11.5% from the year-ago quarter.