First Community Bancshares (NASDAQ:FCBC) Sets New 1-Year High – Time to Buy?

Shares of First Community Bancshares, Inc. (NASDAQ:FCBC) hit a new 52-week high on Thursday . The company traded as high as $50.00 and last traded at $49.2650, with a volume of 5291 shares traded. The stock had previously closed at $49.01.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FCBC shares. Weiss Ratings raised First Community Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Raymond James Financial started coverage on First Community Bancshares in a research note on Tuesday, June 30th. They set a “market perform” rating on the stock. Finally, Zacks Research upgraded First Community Bancshares to a “hold” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, First Community Bancshares has an average rating of “Hold”.

First Community Bancshares Price Performance

The company has a market capitalization of $934.83 million, a P/E ratio of 15.64 and a beta of 0.48. The stock has a 50-day moving average price of $45.41 and a 200-day moving average price of $42.51.

First Community Bancshares (NASDAQ:FCBC) last announced its earnings results on Tuesday, July 21st. The bank reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. The business had revenue of $81.71 million for the quarter, compared to analysts’ expectations of $51.20 million. First Community Bancshares had a return on equity of 10.82% and a net margin of 28.84%. Sell-side analysts anticipate that First Community Bancshares, Inc. will post 3.04 EPS for the current fiscal year.

First Community Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a $0.33 dividend. This is an increase from First Community Bancshares’s previous quarterly dividend of $0.31. The ex-dividend date is Friday, August 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. First Community Bancshares’s dividend payout ratio is presently 41.64%.

Insider Activity at First Community Bancshares

In other news, President Gary R. Mills sold 3,500 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.67, for a total value of $166,845.00. Following the sale, the president directly owned 5,798 shares of the company’s stock, valued at approximately $276,390.66. This represents a 37.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.66% of the company’s stock.

Hedge Funds Weigh In On First Community Bancshares

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of First Community Bancshares in the 2nd quarter valued at about $68,713,000. Goldman Sachs Group Inc. grew its stake in First Community Bancshares by 122.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 97,773 shares of the bank’s stock worth $3,298,000 after purchasing an additional 53,804 shares during the period. Bank of New York Mellon Corp acquired a new stake in First Community Bancshares during the second quarter worth approximately $2,320,000. Two Sigma Investments LP bought a new stake in First Community Bancshares in the third quarter worth approximately $1,366,000. Finally, Vanguard Group Inc. increased its holdings in First Community Bancshares by 3.3% in the third quarter. Vanguard Group Inc. now owns 1,052,046 shares of the bank’s stock worth $36,611,000 after purchasing an additional 33,184 shares in the last quarter. Institutional investors and hedge funds own 34.95% of the company’s stock.

First Community Bancshares Company Profile

First Community Bancshares, Inc (NASDAQ: FCBC) is a bank holding company headquartered in Mebane, North Carolina, that delivers banking and financial services through its wholly owned subsidiary, First Community Bank. The company’s core focus is on relationship-driven community banking, offering clients a blend of personalized service and competitive digital banking capabilities. It serves a diverse clientele that includes individuals, families, small and mid-sized businesses, nonprofit organizations and professional practices.

The bank provides a broad spectrum of deposit products, such as checking, savings, money market and certificate of deposit accounts, alongside treasury management and payment processing solutions.