First Community Bankshares (FCBC) Downgraded by BidaskClub to “Buy”

BidaskClub lowered shares of First Community Bankshares (NASDAQ:FCBC) from a strong-buy rating to a buy rating in a research note published on Wednesday.

FCBC traded up $0.60 during trading hours on Wednesday, hitting $34.90. 2,671 shares of the stock were exchanged, compared to its average volume of 31,654. First Community Bankshares has a 12 month low of $25.85 and a 12 month high of $36.09. The stock has a market capitalization of $558.91 million, a PE ratio of 16.11 and a beta of 0.54.

First Community Bankshares (NASDAQ:FCBC) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.08. First Community Bankshares had a net margin of 22.55% and a return on equity of 10.50%. The company had revenue of $28.84 million for the quarter.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, November 2nd will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.84 dividend on an annualized basis and a yield of 2.41%.

In other First Community Bankshares news, COO E Stephen Lilly sold 8,629 shares of the firm’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $32.92, for a total value of $284,066.68. Following the transaction, the chief operating officer now owns 17,926 shares of the company’s stock, valued at $590,123.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.41% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Systematic Financial Management LP lifted its holdings in First Community Bankshares by 7.0% in the second quarter. Systematic Financial Management LP now owns 691,035 shares of the bank’s stock worth $22,016,000 after acquiring an additional 44,995 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of First Community Bankshares by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,130,074 shares of the bank’s stock worth $36,005,000 after purchasing an additional 41,678 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of First Community Bankshares by 9.3% in the 1st quarter. Wells Fargo & Company MN now owns 25,426 shares of the bank’s stock worth $760,000 after purchasing an additional 2,167 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of First Community Bankshares by 10.8% in the 2nd quarter. Renaissance Technologies LLC now owns 243,496 shares of the bank’s stock worth $7,758,000 after purchasing an additional 23,696 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of First Community Bankshares by 1.5% in the 2nd quarter. BlackRock Inc. now owns 1,235,870 shares of the bank’s stock worth $39,374,000 after purchasing an additional 17,814 shares during the last quarter. 42.39% of the stock is currently owned by hedge funds and other institutional investors.

First Community Bankshares Company Profile

First Community Bancshares, Inc operates as the holding company for First Community Bank that provides various commercial banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement arrangements; commercial, consumer, and real estate mortgage loans, as well as lines of credit; various credit and debit cards, and automated teller machine card services; and corporate and personal trust services.

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