Renaissance Technologies LLC Increases Holdings in First Community Bancshares, Inc. $FCBC

Key Points

• Renaissance Technologies increased its First Community Bancshares stake by 81% in the first quarter, owning 55,188 shares valued at approximately $2.29 million. Institutional investors collectively hold 34.95% of the bank’s stock.
• First Community Bancshares reported quarterly EPS of $0.76, exceeding the $0.74 analyst estimate, while revenue reached $81.71 million. The stock recently traded at $47.74, near its 12-month high.
• The bank raised its quarterly dividend from $0.31 to $0.33 per share, representing an annualized payout of $1.32 and a 2.8% yield. Analysts’ consensus rating remains “Hold.”

Renaissance Technologies LLC increased its position in shares of First Community Bancshares, Inc. (NASDAQ:FCBC - Free Report) by 81.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,188 shares of the bank's stock after purchasing an additional 24,694 shares during the quarter. Renaissance Technologies LLC owned 0.29% of First Community Bancshares worth $2,291,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Advisory Services Network LLC purchased a new position in First Community Bancshares during the 3rd quarter worth approximately $26,000. Aquatic Capital Management LLC lifted its stake in First Community Bancshares by 78.0% during the 3rd quarter. Aquatic Capital Management LLC now owns 1,143 shares of the bank's stock valued at $40,000 after acquiring an additional 501 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of First Community Bancshares by 1,717.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,381 shares of the bank's stock valued at $48,000 after acquiring an additional 1,305 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of First Community Bancshares by 56.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,608 shares of the bank's stock valued at $63,000 after acquiring an additional 577 shares during the last quarter. Finally, Quadrant Capital Group LLC acquired a new stake in shares of First Community Bancshares in the fourth quarter worth $82,000. Hedge funds and other institutional investors own 34.95% of the company's stock.

First Community Bancshares Trading Down 1.0%

FCBC stock opened at $47.74 on Tuesday. First Community Bancshares, Inc. has a 12-month low of $31.21 and a 12-month high of $49.48. The stock has a market cap of $900.85 million, a price-to-earnings ratio of 15.06 and a beta of 0.48. The business's 50-day moving average is $45.15 and its 200 day moving average is $42.33.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last announced its earnings results on Tuesday, July 21st. The bank reported $0.76 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.02. The business had revenue of $81.71 million during the quarter, compared to analysts' expectations of $51.20 million. First Community Bancshares had a return on equity of 10.82% and a net margin of 28.84%. As a group, equities analysts forecast that First Community Bancshares, Inc. will post 3.04 EPS for the current fiscal year.

First Community Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, August 7th. This is a positive change from First Community Bancshares's previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a dividend yield of 2.8%. First Community Bancshares's dividend payout ratio (DPR) is presently 41.64%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Weiss Ratings reissued a "buy (b-)" rating on shares of First Community Bancshares in a report on Thursday, June 18th. Raymond James Financial began coverage on First Community Bancshares in a research report on Tuesday, June 30th. They set a "market perform" rating on the stock. Finally, Zacks Research upgraded First Community Bancshares to a "hold" rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Community Bancshares presently has an average rating of "Hold".

Insider Buying and Selling

In other First Community Bancshares news, President Gary R. Mills sold 3,500 shares of the firm's stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.67, for a total value of $166,845.00. Following the transaction, the president owned 5,798 shares in the company, valued at approximately $276,390.66. This trade represents a 37.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.66% 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.

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