First Community Bancshares (NASDAQ:FCBC) Hits New 52-Week High – Here’s What Happened

First Community Bancshares, Inc. (NASDAQ:FCBC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $50.17 and last traded at $49.9950, with a volume of 28683 shares trading hands. The stock had previously closed at $49.19.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Raymond James Financial assumed coverage on shares of First Community Bancshares in a report on Tuesday, June 30th. They issued a “market perform” rating for the company. Zacks Research upgraded First Community Bancshares to a “hold” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings raised First Community Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

First Community Bancshares Trading Down 0.4%

The company has a market cap of $933.02 million, a PE ratio of 15.56 and a beta of 0.48. The firm has a 50 day moving average of $46.45 and a two-hundred day moving average of $43.36.

First Community Bancshares (NASDAQ:FCBC) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. First Community Bancshares had a return on equity of 10.67% and a net margin of 28.84%.The business had revenue of $81.71 million during the quarter, compared to analysts’ expectations of $51.20 million. On average, research analysts forecast that First Community Bancshares, Inc. will post 3.04 EPS for the current year.

First Community Bancshares Increases Dividend

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

Insider Activity

In related news, SVP Sarah W. Harmon sold 4,329 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $49.21, for a total transaction of $213,030.09. Following the sale, the senior vice president directly owned 8,141 shares of the company’s stock, valued at approximately $400,618.61. This represents a 34.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Gary R. Mills sold 3,500 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.67, for a total transaction of $166,845.00. Following the sale, the president owned 5,798 shares of the company’s stock, valued at approximately $276,390.66. This represents a 37.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.66% of the stock is owned by insiders.

Institutional Investors Weigh In On First Community Bancshares

Institutional investors and hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in First Community Bancshares in the 2nd quarter worth approximately $25,000. Advisory Services Network LLC bought a new stake in shares of First Community Bancshares in the 3rd quarter worth $26,000. Aquatic Capital Management LLC increased its holdings in shares of First Community Bancshares by 78.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,143 shares of the bank’s stock worth $40,000 after purchasing an additional 501 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of First Community Bancshares by 1,717.1% in the third quarter. Russell Investments Group Ltd. now owns 1,381 shares of the bank’s stock worth $48,000 after purchasing an additional 1,305 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of First Community Bancshares by 56.0% in the second quarter. BNP Paribas Financial Markets now owns 1,608 shares of the bank’s stock worth $63,000 after purchasing an additional 577 shares during the last quarter. Institutional investors own 34.95% of the company’s stock.

About First Community Bancshares

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.