Bank of New York Mellon Corp Makes New $2.32 Million Investment in First Community Bancshares, Inc. $FCBC

Key Points

• Bank of New York Mellon acquired 52,230 shares of First Community Bancshares, valued at approximately $2.32 million, giving it a 0.28% stake. Institutional investors collectively own 34.95% of the company.
• Analysts maintain a generally cautious outlook, with one Buy rating and two Hold ratings, resulting in a consensus rating of Hold. The bank recently exceeded quarterly EPS expectations, reporting $0.76 versus the $0.74 consensus estimate.
• First Community Bancshares increased its quarterly dividend from $0.31 to $0.33 per share, equivalent to a $1.32 annualized dividend and a 2.7% yield. Meanwhile, two company insiders recently sold shares.

Bank of New York Mellon Corp acquired a new position in First Community Bancshares, Inc. (NASDAQ:FCBC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 52,230 shares of the bank's stock, valued at approximately $2,320,000. Bank of New York Mellon Corp owned about 0.28% of First Community Bancshares as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Hsbc Holdings PLC lifted its position in First Community Bancshares by 1.2% in the 4th quarter. Hsbc Holdings PLC now owns 35,959 shares of the bank's stock valued at $1,205,000 after acquiring an additional 418 shares in the last quarter. Mariner LLC raised its stake in shares of First Community Bancshares by 2.3% in the fourth quarter. Mariner LLC now owns 19,291 shares of the bank's stock worth $651,000 after purchasing an additional 437 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of First Community Bancshares by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,124 shares of the bank's stock worth $382,000 after purchasing an additional 474 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in shares of First Community Bancshares by 10.5% during the second quarter. Osaic Holdings Inc. now owns 5,265 shares of the bank's stock valued at $206,000 after purchasing an additional 499 shares in the last quarter. Finally, Aquatic Capital Management LLC lifted its holdings in shares of First Community Bancshares by 78.0% during the third quarter. Aquatic Capital Management LLC now owns 1,143 shares of the bank's stock valued at $40,000 after purchasing an additional 501 shares in the last quarter. Institutional investors own 34.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Zacks Research raised First Community Bancshares to a "hold" rating in a research report on Wednesday, July 1st. Raymond James Financial initiated coverage on shares of First Community Bancshares in a research note on Tuesday, June 30th. They issued a "market perform" rating for the company. Finally, Weiss Ratings raised shares of First Community Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

Insider Buying and Selling at First Community Bancshares

In other First Community Bancshares news, SVP Sarah W. Harmon sold 4,329 shares of the business's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $49.21, for a total transaction of $213,030.09. Following the completion of the sale, the senior vice president owned 8,141 shares of the company's stock, valued at approximately $400,618.61. The trade was a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Gary R. Mills sold 3,500 shares of the company's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $47.67, for a total value of $166,845.00. Following the completion of the sale, the president owned 5,798 shares of the company's stock, valued at approximately $276,390.66. The trade was a 37.64% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 3.66% of the company's stock.

First Community Bancshares Price Performance

NASDAQ FCBC opened at $49.09 on Tuesday. The company has a 50-day moving average price of $47.29 and a 200-day moving average price of $43.90. First Community Bancshares, Inc. has a 52 week low of $31.21 and a 52 week high of $50.17. The firm has a market capitalization of $928.29 million, a P/E ratio of 15.49 and a beta of 0.47.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.02. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.67%. The company had revenue of $81.71 million for the quarter, compared to the consensus estimate of $51.20 million. As a group, equities research analysts anticipate that First Community Bancshares, Inc. will post 3.04 EPS for the current year.

First Community Bancshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a $0.33 dividend. This is a positive change from First Community Bancshares's previous quarterly dividend of $0.31. The ex-dividend date was Friday, August 7th. This represents a $1.32 annualized dividend and a dividend yield of 2.7%. First Community Bancshares's dividend payout ratio (DPR) is currently 41.64%.

First Community Bancshares 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.

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