First Community Bancshares (NASDAQ:FCBC) Stock Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• FCBC shares moved above their 200-day moving average, reaching $47.85 before closing at $46.92, compared with a 200-day average of $44.27.
• First Community Bancshares exceeded quarterly earnings expectations, reporting $0.76 EPS versus the $0.74 consensus and $81.71 million in revenue. Analysts’ average rating remains “Hold,” with one Buy and two Hold ratings.
• The company increased its quarterly dividend to $0.33 per share, or $1.32 annually, representing a 2.8% yield; meanwhile, two senior insiders sold shares and institutional investors owned 34.95% of the stock.

First Community Bancshares, Inc. (NASDAQ:FCBC - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $44.27 and traded as high as $47.85. First Community Bancshares shares last traded at $46.92, with a volume of 94,370 shares.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FCBC. Raymond James Financial started coverage on First Community Bancshares in a report on Tuesday, June 30th. They issued a "market perform" rating for the company. Weiss Ratings upgraded shares of First Community Bancshares from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, August 11th. Finally, Zacks Research raised shares of First Community Bancshares to a "hold" rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, First Community Bancshares has an average rating of "Hold".

First Community Bancshares Stock Down 1.6%

The firm has a market cap of $887.26 million, a P/E ratio of 14.80 and a beta of 0.47. The business has a fifty day moving average of $47.68 and a 200 day moving average of $44.27.

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

First Community Bancshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, August 7th. This is a boost from First Community Bancshares's previous quarterly dividend of $0.31. First Community Bancshares's payout ratio is presently 41.64%.

Insiders Place Their Bets

In related news, SVP Sarah W. Harmon sold 4,329 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $49.21, for a total value of $213,030.09. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gary Mills sold 3,500 shares of First Community Bancshares stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.67, for a total transaction of $166,845.00. Following the transaction, the president directly owned 5,798 shares of the company's stock, valued at approximately $276,390.66. This trade represents a 37.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FCBC. Renaissance Technologies LLC grew its position in shares of First Community Bancshares by 81.0% in the first quarter. Renaissance Technologies LLC now owns 55,188 shares of the bank's stock valued at $2,291,000 after purchasing an additional 24,694 shares during the last quarter. BlackRock Inc. acquired a new stake in First Community Bancshares during the 2nd quarter worth approximately $68,713,000. Quantinno Capital Management LP lifted its holdings in First Community Bancshares by 60.8% during 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 during the last quarter. Legal & General Group Plc bought a new stake in First Community Bancshares in the 2nd quarter valued at $611,000. Finally, Sei Investments Co. boosted its stake in First Community Bancshares by 119.7% in the 1st quarter. Sei Investments Co. now owns 20,373 shares of the bank's stock valued at $846,000 after purchasing an additional 11,100 shares during the period. Institutional investors and hedge funds own 34.95% of the company's stock.

About First Community Bancshares

First Community Bancshares, Inc is a bank holding company headquartered in Bluefield, Virginia. Its principal subsidiary, First Community Bank, provides financial services to individuals, businesses, nonprofit organizations and public-sector customers through a community banking model.

The bank offers deposit products, consumer and commercial lending, residential mortgage loans, online and mobile banking, treasury management and other traditional banking services. It also provides investment, trust, wealth management and insurance services through affiliated or related business lines.

First Community Bank serves communities across Virginia, West Virginia, North Carolina and Tennessee through a network of branches and offices.

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