First Community Bancshares (NASDAQ:FCBC) Reaches New 52-Week High – Here’s What Happened
by Danessa Lincoln · The Markets DailyFirst Community Bancshares, Inc. (NASDAQ:FCBC – Get Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $43.37 and last traded at $42.8690, with a volume of 9167 shares changing hands. The stock had previously closed at $42.20.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings raised First Community Bancshares from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 23rd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy”.
Check Out Our Latest Analysis on FCBC
First Community Bancshares Price Performance
The firm has a market cap of $816.77 million, a price-to-earnings ratio of 16.09 and a beta of 0.48. The firm has a 50 day moving average price of $40.02 and a 200-day moving average price of $35.89.
First Community Bancshares (NASDAQ:FCBC – Get Free Report) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.10. First Community Bancshares had a return on equity of 10.17% and a net margin of 26.32%.The business had revenue of $43.79 million for the quarter, compared to analyst estimates of $43.20 million.
First Community Bancshares Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.24 annualized dividend and a yield of 2.9%. First Community Bancshares’s dividend payout ratio is presently 46.62%.
Hedge Funds Weigh In On First Community Bancshares
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake 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 valued at $36,611,000 after buying an additional 33,184 shares during the period. Geode Capital Management LLC lifted its stake in First Community Bancshares by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 439,993 shares of the bank’s stock valued at $14,845,000 after buying an additional 17,165 shares during the period. State Street Corp lifted its stake in First Community Bancshares by 0.7% in the fourth quarter. State Street Corp now owns 417,549 shares of the bank’s stock valued at $14,084,000 after buying an additional 2,944 shares during the period. Goldman Sachs Group Inc. lifted its stake in First Community Bancshares by 122.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 97,773 shares of the bank’s stock valued at $3,298,000 after buying an additional 53,804 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in First Community Bancshares by 31.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 77,191 shares of the bank’s stock valued at $2,604,000 after buying an additional 18,612 shares during the period. Institutional investors and hedge funds 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.