First Community Bancshares (NASDAQ:FCBC) Stock Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• FCBC shares broke above their 200-day moving average, reaching $49.08 and last trading at $48.74 versus the $45.45 long-term average.
• Analysts maintain a generally cautious outlook, with one Buy and two Hold ratings, resulting in a consensus rating of Hold. The company nevertheless exceeded quarterly EPS estimates, reporting $0.76 versus $0.74 expected.
• Several insiders recently reduced their holdings through stock sales, while institutional ownership stands at 34.95% and insider ownership at 3.66%.

First Community Bancshares, Inc. (NASDAQ:FCBC - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $45.45 and traded as high as $49.08. First Community Bancshares shares last traded at $48.74, with a volume of 117,717 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Weiss Ratings upgraded First Community Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday. Raymond James Financial initiated 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 report on Wednesday, July 1st. One equities research 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 $921.67 million, a P/E ratio of 15.38 and a beta of 0.49. The stock's 50 day simple moving average is $48.14 and its two-hundred day simple moving average is $45.45.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last issued its quarterly earnings data on Tuesday, July 21st. The bank reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.67%. The company had revenue of $81.71 million during the quarter, compared to the consensus estimate of $51.20 million. As a group, analysts forecast that First Community Bancshares, Inc. will post 3.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Community Bancshares news, SVP Sarah W. Harmon sold 4,329 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $49.21, for a total transaction of $213,030.09. Following the completion of the transaction, the senior vice president owned 8,141 shares in the company, valued at approximately $400,618.61. This represents a 34.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Gary R. Mills sold 3,500 shares of First Community Bancshares stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $47.67, for a total value of $166,845.00. Following the completion of the sale, the president directly owned 5,798 shares in the company, valued at $276,390.66. This represents a 37.64% decrease in their position. The SEC filing for this sale provides additional information. 3.66% of the stock is currently owned by corporate insiders.

Institutional Trading of First Community Bancshares

A number of institutional investors have recently modified their holdings of FCBC. Sax Wealth Advisors LLC acquired a new position in First Community Bancshares during the third quarter worth $348,000. Farther Finance Advisors LLC grew its position in First Community Bancshares by 333.2% in the third quarter. Farther Finance Advisors LLC now owns 1,070 shares of the bank's stock valued at $50,000 after purchasing an additional 823 shares in the last quarter. Arizona State Retirement System acquired a new stake in First Community Bancshares in the 2nd quarter valued at $210,000. Susquehanna Fundamental Investments LLC increased its stake in First Community Bancshares by 58.9% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 12,144 shares of the bank's stock valued at $539,000 after buying an additional 4,500 shares during the last quarter. Finally, Sheets Smith Wealth Management acquired a new stake in First Community Bancshares in the 2nd quarter valued at $212,000. 34.95% of the stock is currently owned by institutional investors.

About First Community Bancshares

First Community Bancshares, Inc is a bank holding company headquartered in Bluefield, Virginia. Through its subsidiary, First Community Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and local governments.

First Community Bank offers consumer and commercial deposit accounts, residential mortgages, commercial and industrial loans, real estate financing, agricultural lending and other credit products. Its services also include online and mobile banking, treasury management, wealth management, trust and investment services, and insurance-related offerings.

Founded in 1874, First Community has developed a regional banking presence in communities across Virginia, West Virginia, North Carolina and Tennessee.

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