First Community Bancshares (FCBC) Upgraded to Strong-Buy by BidaskClub

BidaskClub upgraded shares of First Community Bancshares (NASDAQ:FCBC) from a buy rating to a strong-buy rating in a research report report published on Wednesday.

Shares of FCBC opened at $34.55 on Wednesday. The stock has a market capitalization of $572.67 million, a P/E ratio of 16.22 and a beta of 0.54. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.98 and a quick ratio of 0.98. First Community Bancshares has a 52-week low of $25.85 and a 52-week high of $36.09.

First Community Bancshares (NASDAQ:FCBC) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.08. The firm had revenue of $28.84 million during the quarter. First Community Bancshares had a net margin of 22.55% and a return on equity of 10.45%.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, November 1st. This represents a $0.84 annualized dividend and a dividend yield of 2.43%.

In other news, COO E Stephen Lilly sold 8,629 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $32.92, for a total transaction of $284,066.68. Following the completion of the transaction, the chief operating officer now owns 17,926 shares in the company, valued at approximately $590,123.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 3.41% of the company’s stock.

Large investors have recently bought and sold shares of the company. Canandaigua National Bank & Trust Co. bought a new position in shares of First Community Bancshares during the 2nd quarter valued at about $205,000. Signaturefd LLC bought a new position in shares of First Community Bancshares during the 2nd quarter valued at about $231,000. Citadel Advisors LLC bought a new position in shares of First Community Bancshares during the 2nd quarter valued at about $438,000. Wells Fargo & Company MN boosted its position in shares of First Community Bancshares by 9.3% during the 1st quarter. Wells Fargo & Company MN now owns 25,426 shares of the bank’s stock valued at $760,000 after purchasing an additional 2,167 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in shares of First Community Bancshares during the 2nd quarter valued at about $832,000. Institutional investors own 42.37% of the company’s stock.

First Community Bancshares Company Profile

First Community Bancshares, Inc operates as the holding company for First Community Bank that provides various commercial banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement arrangements; commercial, consumer, and real estate mortgage loans, as well as lines of credit; various credit and debit cards, and automated teller machine card services; and corporate and personal trust services.

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