First Community Bancshares (NASDAQ:FCBC) Sets New 52-Week High - Still a Buy?

Key Points

• First Community Bancshares reached a new 52-week high of $49.39, with a market capitalization of about $919 million and a price-to-earnings ratio of 15.37.
• The bank exceeded quarterly earnings expectations, reporting $0.76 in EPS versus the $0.74 consensus estimate and $92.09 million in revenue. However, analysts’ consensus rating remains “Hold,” with one Buy and two Hold ratings.
• First Community raised its quarterly dividend from $0.31 to $0.33 per share, implying a 2.7% annual yield. Institutional ownership stands at 34.95%, while the company’s president recently sold 3,500 shares.

First Community Bancshares, Inc. (NASDAQ:FCBC - Get Free Report)'s share price reached a new 52-week high on Wednesday . The company traded as high as $49.39 and last traded at $49.4290, with a volume of 200 shares. The stock had previously closed at $48.96.

Analyst Upgrades and Downgrades

Several analysts have issued reports on FCBC shares. Zacks Research upgraded shares of 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 report on Tuesday, June 30th. They issued a "market perform" rating on the stock. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold".

First Community Bancshares Price Performance

The company has a market cap of $919.35 million, a PE ratio of 15.37 and a beta of 0.48. The company has a fifty day moving average price of $44.70 and a 200 day moving average price of $41.94.

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 for the quarter, topping the consensus estimate of $0.74 by $0.02. The company had revenue of $92.09 million for the quarter, compared to analysts' expectations of $51.20 million. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.82%. As a group, sell-side analysts predict that First Community Bancshares, Inc. will post 3.04 EPS for the current fiscal year.

First Community Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, August 7th. This is a positive change from First Community Bancshares's previous quarterly dividend of $0.31. First Community Bancshares's payout ratio is currently 39.12%.

Insider Activity at First Community Bancshares

In other news, President Gary R. Mills sold 3,500 shares of the firm's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.67, for a total transaction of $166,845.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 3.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in First Community Bancshares by 3.3% during the third quarter. Vanguard Group Inc. now owns 1,052,046 shares of the bank's stock valued at $36,611,000 after purchasing an additional 33,184 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of First Community Bancshares by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 439,993 shares of the bank's stock worth $14,845,000 after purchasing an additional 17,165 shares in the last quarter. State Street Corp increased its position in shares of First Community Bancshares by 0.7% during the 4th 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. increased its position in shares of First Community Bancshares by 122.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 97,773 shares of the bank's stock valued at $3,298,000 after purchasing an additional 53,804 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of First Community Bancshares by 31.8% during 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 last quarter. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

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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