First Community Bankshares (NASDAQ:FCBC) Downgraded by StockNews.com to Sell

StockNews.com lowered shares of First Community Bankshares (NASDAQ:FCBC) from a hold rating to a sell rating in a report issued on Friday morning.

First Community Bankshares Stock Performance

Shares of FCBC opened at $33.10 on Friday. The stock’s 50-day simple moving average is $32.81 and its 200 day simple moving average is $33.74. The stock has a market capitalization of $611.36 million, a price-to-earnings ratio of 12.17 and a beta of 0.52. First Community Bankshares has a 52-week low of $22.55 and a 52-week high of $39.23.

First Community Bankshares (NASDAQ:FCBC) last issued its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.12. The business had revenue of $42.53 million for the quarter, compared to analysts’ expectations of $41.98 million. First Community Bankshares had a return on equity of 11.20% and a net margin of 27.50%. On average, research analysts forecast that First Community Bankshares will post 2.38 earnings per share for the current fiscal year.

First Community Bankshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 9th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $1.16 dividend on an annualized basis and a yield of 3.50%. First Community Bankshares’s dividend payout ratio (DPR) is 42.65%.

Institutional Trading of First Community Bankshares

A number of institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its holdings in First Community Bankshares by 4.6% during the 3rd quarter. Royal Bank of Canada now owns 6,895 shares of the bank’s stock worth $221,000 after purchasing an additional 302 shares in the last quarter. Legal & General Group Plc increased its stake in First Community Bankshares by 6.3% in the 2nd quarter. Legal & General Group Plc now owns 7,266 shares of the bank’s stock worth $213,000 after acquiring an additional 429 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in First Community Bankshares by 3.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,242 shares of the bank’s stock worth $455,000 after acquiring an additional 434 shares during the last quarter. Summit Financial Group Inc. increased its stake in First Community Bankshares by 1.3% in the 3rd quarter. Summit Financial Group Inc. now owns 37,452 shares of the bank’s stock worth $1,103,000 after acquiring an additional 471 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in First Community Bankshares by 0.9% in the 4th quarter. Nuveen Asset Management LLC now owns 51,489 shares of the bank’s stock worth $1,910,000 after acquiring an additional 475 shares during the last quarter. Hedge funds and other institutional investors own 34.95% of the company’s stock.

About First Community Bankshares

First Community Bankshares, Inc operates as the financial holding company for First Community Bank that provides various banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement plans; and commercial, consumer real estate, and consumer and other loans.