BlackRock Inc. Purchases New Shares in First Community Bancshares, Inc. $FCBC

Key Points

• BlackRock acquired 1.55 million shares of First Community Bancshares in the second quarter, valued at approximately $68.7 million and representing an 8.2% stake. Institutional investors collectively own 34.95% of the company.
• First Community Bancshares reported quarterly EPS of $0.76, exceeding analysts’ $0.74 estimate, while revenue reached $81.71 million. The company also raised its quarterly dividend to $0.33, implying a 2.7% annualized yield.
• Analyst sentiment remains broadly neutral, with one Buy and two Hold ratings, resulting in an overall “Hold” consensus. Shares opened at $48.92, near their 52-week high of $50.17, while two executives recently sold shares.

BlackRock Inc. purchased a new stake in shares of First Community Bancshares, Inc. (NASDAQ:FCBC - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,546,891 shares of the bank's stock, valued at approximately $68,713,000. BlackRock Inc. owned 8.20% of First Community Bancshares as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FCBC. Vanguard Group Inc. increased its holdings in First Community Bancshares by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,052,046 shares of the bank's stock worth $36,611,000 after purchasing an additional 33,184 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of First Community Bancshares by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 439,993 shares of the bank's stock worth $14,845,000 after acquiring an additional 17,165 shares during the last quarter. State Street Corp grew its position in shares of 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 purchasing an additional 2,944 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in First Community Bancshares by 122.4% in the 4th 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 in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its holdings in First Community Bancshares by 31.8% in the 4th 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 purchasing an additional 18,612 shares during the period. Institutional investors own 34.95% of the company's stock.

Insider Transactions at First Community Bancshares

In other First Community Bancshares 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 completion of the transaction, the senior vice president owned 8,141 shares of the company's stock, valued at $400,618.61. This represents a 34.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Gary R. Mills sold 3,500 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.67, for a total value of $166,845.00. Following the transaction, the president directly owned 5,798 shares of the company's stock, valued at approximately $276,390.66. The trade was a 37.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.66% of the stock is owned by company insiders.

Analyst Ratings Changes

FCBC has been the topic of several research reports. Raymond James Financial began coverage on shares of First Community Bancshares in a report on Tuesday, June 30th. They set a "market perform" rating on the stock. 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. Finally, Zacks Research upgraded shares of First Community Bancshares to a "hold" rating in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, First Community Bancshares presently has an average rating of "Hold".

First Community Bancshares Price Performance

Shares of First Community Bancshares stock opened at $48.92 on Monday. First Community Bancshares, Inc. has a 1 year low of $31.21 and a 1 year high of $50.17. The stock has a market cap of $925.08 million, a price-to-earnings ratio of 15.43 and a beta of 0.48. The firm's 50-day moving average is $46.79 and its 200 day moving average is $43.53.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The bank reported $0.76 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $81.71 million for the quarter, compared to analysts' expectations of $51.20 million. On average, equities analysts expect that First Community Bancshares, Inc. will post 3.04 EPS for the current fiscal year.

First Community Bancshares Increases Dividend

The company 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 represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from First Community Bancshares's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, August 7th. First Community Bancshares's dividend payout ratio is currently 41.64%.

First Community Bancshares Company 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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