First Community Bancshares (NASDAQ:FCBC) Reaches New 12-Month High - Here's Why

Key Points

• First Community Bancshares hit a new 52-week high, trading as high as $48.89 and giving the company a market capitalization of approximately $909 million.
• The bank reported quarterly earnings of $0.76 per share, exceeding the $0.74 analyst consensus, while revenue reached $92.09 million. Analysts’ overall rating remains “Hold.”
• First Community Bancshares raised its quarterly dividend from $0.31 to $0.33 per share, equivalent to an annualized dividend of $1.32 and a 2.7% yield.

First Community Bancshares, Inc. (NASDAQ:FCBC - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $48.89 and last traded at $48.17, with a volume of 101675 shares trading hands. The stock had previously closed at $48.48.

Analysts Set New Price Targets

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

First Community Bancshares Price Performance

The stock has a market cap of $908.97 million, a P/E ratio of 15.20 and a beta of 0.48. The business's fifty day moving average price is $44.02 and its 200 day moving average price is $41.30.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.76 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.02. The company had revenue of $92.09 million for the quarter, compared to the consensus estimate of $51.20 million. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.82%. On average, analysts predict that First Community Bancshares, Inc. will post 3.04 earnings per share for the current fiscal year.

First Community Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Shareholders of record on Friday, August 7th will be given a $0.33 dividend. This is an increase from First Community Bancshares's previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, August 7th. First Community Bancshares's dividend payout ratio (DPR) is 39.12%.

Institutional Trading of First Community Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of First Community Bancshares during the second quarter worth $461,000. Bank of America Corp DE grew its position in First Community Bancshares by 81.5% during the 1st quarter. Bank of America Corp DE now owns 38,645 shares of the bank's stock worth $1,605,000 after acquiring an additional 17,355 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in First Community Bancshares during the 1st quarter worth $203,000. Quantinno Capital Management LP increased its holdings in First Community Bancshares by 60.8% in the 1st quarter. Quantinno Capital Management LP now owns 26,968 shares of the bank's stock worth $1,120,000 after purchasing an additional 10,195 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in First Community Bancshares by 81.0% in the 1st quarter. Renaissance Technologies LLC now owns 55,188 shares of the bank's stock worth $2,291,000 after purchasing an additional 24,694 shares in the last quarter. Institutional investors own 34.95% 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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