Gary Mills Sells 3,500 Shares of First Community Bancshares (NASDAQ:FCBC) Stock

Key Points

• President Gary Mills sold 3,500 FCBC shares for approximately $166,845, reducing his direct holdings by 37.64% to 5,798 shares.
• First Community Bancshares reported quarterly EPS of $0.76, beating estimates by $0.02, while shares rose 0.7% to $47.96 and remain near their 52-week high.
• The company increased its quarterly dividend from $0.31 to $0.33 per share, equivalent to an annualized dividend of $1.32 and a 2.8% yield; analysts’ consensus rating remains “Hold.”

First Community Bancshares, Inc. (NASDAQ:FCBC - Get Free Report) President Gary Mills sold 3,500 shares of the business'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 completion of the transaction, the president directly owned 5,798 shares in the company, valued at approximately $276,390.66. This represents a 37.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First Community Bancshares Trading Up 0.7%

Shares of FCBC stock traded up $0.32 during trading hours on Thursday, hitting $47.96. 79,094 shares of the company were exchanged, compared to its average volume of 81,719. The stock has a market capitalization of $904.86 million, a price-to-earnings ratio of 15.13 and a beta of 0.48. The firm has a fifty day simple moving average of $44.26 and a 200 day simple moving average of $41.52. First Community Bancshares, Inc. has a 52-week low of $31.21 and a 52-week high of $49.35.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.76 EPS for the quarter, beating the consensus estimate of $0.74 by $0.02. First Community Bancshares had a return on equity of 10.82% and a net margin of 28.84%.The business had revenue of $92.09 million for the quarter, compared to the consensus estimate of $51.20 million. Sell-side analysts anticipate that First Community Bancshares, Inc. will post 3.04 EPS for the current year.

First Community Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from First Community Bancshares's previous quarterly dividend of $0.31. First Community Bancshares's payout ratio is currently 41.64%.

Hedge Funds Weigh In On First Community Bancshares

A number of large investors have recently made changes to their positions in FCBC. Assenagon Asset Management S.A. bought a new stake in shares of First Community Bancshares during the 2nd quarter valued at $461,000. Bank of America Corp DE boosted its stake in First Community Bancshares by 81.5% in the 1st quarter. Bank of America Corp DE now owns 38,645 shares of the bank's stock worth $1,605,000 after purchasing an additional 17,355 shares during the period. The Manufacturers Life Insurance Company purchased a new position in First Community Bancshares during the 1st quarter valued at about $203,000. Quantinno Capital Management LP increased its position in shares of First Community Bancshares by 60.8% during the first quarter. Quantinno Capital Management LP now owns 26,968 shares of the bank's stock valued at $1,120,000 after buying an additional 10,195 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of First Community Bancshares by 81.0% during the first quarter. Renaissance Technologies LLC now owns 55,188 shares of the bank's stock valued at $2,291,000 after buying an additional 24,694 shares during the period. 34.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. 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. Zacks Research upgraded shares of First Community Bancshares to a "hold" rating in a research note on Wednesday, July 1st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of First Community Bancshares in a research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.