First Community Bancshares (FCBC) Upgraded at BidaskClub

BidaskClub upgraded shares of First Community Bancshares (NASDAQ:FCBC) from a hold rating to a buy rating in a research note released on Wednesday.

Separately, Sandler O’Neill reissued a hold rating and set a $30.00 price target on shares of First Community Bancshares in a research report on Thursday, January 25th.

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First Community Bancshares (FCBC) traded up $0.42 on Wednesday, hitting $30.34. 90,380 shares of the company were exchanged, compared to its average volume of 25,786. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.00 and a quick ratio of 1.00. First Community Bancshares has a one year low of $23.23 and a one year high of $32.24. The company has a market capitalization of $506.84, a price-to-earnings ratio of 24.08 and a beta of 0.68.

First Community Bancshares (NASDAQ:FCBC) last released its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. First Community Bancshares had a net margin of 17.67% and a return on equity of 8.05%. The company had revenue of $29.68 million for the quarter.

The company also recently declared a special dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be given a dividend of $0.48 per share. This represents a dividend yield of 2.65%. The ex-dividend date is Thursday, March 8th. First Community Bancshares’s payout ratio is currently 57.14%.

In related news, President Gary R. Mills acquired 1,000 shares of the stock in a transaction on Tuesday, March 13th. The shares were acquired at an average price of $29.30 per share, with a total value of $29,300.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David D. Brown sold 965 shares of First Community Bancshares stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $29.51, for a total transaction of $28,477.15. Following the completion of the sale, the chief financial officer now directly owns 9,636 shares in the company, valued at approximately $284,358.36. The disclosure for this sale can be found here. Insiders have purchased 1,400 shares of company stock worth $40,275 over the last three months. 3.33% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC raised its position in First Community Bancshares by 1.2% in the second quarter. Parametric Portfolio Associates LLC now owns 48,431 shares of the bank’s stock worth $1,325,000 after acquiring an additional 554 shares during the period. Wells Fargo & Company MN raised its position in First Community Bancshares by 17.9% in the second quarter. Wells Fargo & Company MN now owns 14,834 shares of the bank’s stock worth $405,000 after acquiring an additional 2,252 shares during the period. Commonwealth Equity Services Inc raised its position in First Community Bancshares by 13.1% in the third quarter. Commonwealth Equity Services Inc now owns 22,640 shares of the bank’s stock worth $659,000 after acquiring an additional 2,617 shares during the period. Schwab Charles Investment Management Inc. raised its position in First Community Bancshares by 3.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 85,658 shares of the bank’s stock worth $2,494,000 after acquiring an additional 3,151 shares during the period. Finally, Bessemer Group Inc. raised its position in First Community Bancshares by 19.8% in the fourth quarter. Bessemer Group Inc. now owns 20,000 shares of the bank’s stock worth $575,000 after acquiring an additional 3,300 shares during the period. 41.09% of the stock is currently owned by institutional investors and hedge funds.

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First Community Bancshares Company Profile

First Community Bancshares, Inc is a financial holding company. The Company provides commercial banking products and services through its subsidiary First Community Bank (the Bank). The Bank operates as First Community Bank in Virginia, West Virginia, and North Carolina and People’s Community Bank, a Division of First Community Bank, in Tennessee.

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