Vanguard Group Inc. Boosts Stock Position in First Community Bancshares, Inc. $FCBC

Key Points

• Vanguard Group Inc. increased its stake in First Community Bancshares by 5.9%, now owning approximately 5.47% of the company, valued at $37.71 million.
• First Community Bancshares recently reported a Q2 earnings per share of $0.67, exceeding estimates, with a revenue of $41 million.
• Analysts have downgraded First Community Bancshares from a "hold" to a "sell" rating, indicating potential concerns about the stock's performance.

Vanguard Group Inc. grew its stake in shares of First Community Bancshares, Inc. (NASDAQ:FCBC - Free Report) by 5.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,000,510 shares of the bank's stock after purchasing an additional 55,632 shares during the period. Vanguard Group Inc. owned about 5.47% of First Community Bancshares worth $37,709,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FCBC. GAMMA Investing LLC increased its holdings in First Community Bancshares by 3,912.9% during the 1st quarter. GAMMA Investing LLC now owns 61,397 shares of the bank's stock worth $2,314,000 after purchasing an additional 59,867 shares in the last quarter. Mariner LLC bought a new position in shares of First Community Bancshares in the fourth quarter valued at approximately $630,000. Systematic Financial Management LP grew its holdings in shares of First Community Bancshares by 2.0% in the fourth quarter. Systematic Financial Management LP now owns 542,599 shares of the bank's stock valued at $22,594,000 after acquiring an additional 10,855 shares in the last quarter. Northern Trust Corp grew its holdings in shares of First Community Bancshares by 6.9% in the fourth quarter. Northern Trust Corp now owns 168,347 shares of the bank's stock valued at $7,010,000 after acquiring an additional 10,819 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in shares of First Community Bancshares in the fourth quarter valued at approximately $329,000. 34.95% of the stock is owned by institutional investors.

First Community Bancshares Stock Down 0.3%

Shares of FCBC stock traded down $0.11 on Monday, reaching $37.98. The company's stock had a trading volume of 43,831 shares, compared to its average volume of 38,595. First Community Bancshares, Inc. has a 12-month low of $32.81 and a 12-month high of $49.02. The company has a market capitalization of $695.79 million, a P/E ratio of 13.91 and a beta of 0.68. The stock's 50 day simple moving average is $38.52 and its 200-day simple moving average is $38.53.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last released its earnings results on Tuesday, July 22nd. The bank reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. The business had revenue of $41.00 million for the quarter, compared to analysts' expectations of $40.60 million. First Community Bancshares had a return on equity of 9.68% and a net margin of 27.07%.

First Community Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, August 8th. First Community Bancshares's payout ratio is presently 45.42%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered First Community Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.

About First Community Bancshares

First Community Bankshares, Inc operates as the financial holding company for First Community Bank that provides various banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement plans; and commercial, consumer real estate, and consumer and other loans.