First Community Bancshares (NASDAQ:FCBC) Sets New 52-Week High Following Earnings Beat

First Community Bancshares, Inc. (NASDAQ:FCBC)’s stock price hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The company traded as high as $46.87 and last traded at $46.8680, with a volume of 9705 shares trading hands. The stock had previously closed at $44.63.

The bank reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. First Community Bancshares had a net margin of 25.89% and a return on equity of 10.44%. The company had revenue of $92.09 million during the quarter, compared to analysts’ expectations of $51.20 million.

First Community Bancshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be issued a $0.33 dividend. This is an increase from First Community Bancshares’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, August 7th. First Community Bancshares’s payout ratio is currently 46.79%.

Analyst Upgrades and Downgrades

FCBC has been the topic of several research reports. Raymond James Financial started coverage on First Community Bancshares in a report on Tuesday, June 30th. They set a “market perform” rating on the stock. Zacks Research upgraded 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 report on Thursday, June 18th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Institutional Trading of First Community Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. lifted its stake in shares of First Community Bancshares by 122.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 97,773 shares of the bank’s stock worth $3,298,000 after acquiring an additional 53,804 shares in the last quarter. Two Sigma Investments LP acquired a new stake in shares of First Community Bancshares in the 3rd quarter valued at about $1,366,000. Vanguard Group Inc. raised its stake in shares of First Community Bancshares by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,052,046 shares of the bank’s stock valued at $36,611,000 after purchasing an additional 33,184 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of First Community Bancshares by 51.8% during the fourth quarter. AQR Capital Management LLC now owns 76,204 shares of the bank’s stock worth $2,570,000 after purchasing an additional 25,990 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of First Community Bancshares during the first quarter worth about $976,000. Institutional investors and hedge funds own 34.95% of the company’s stock.

First Community Bancshares Stock Up 4.3%

The firm has a market capitalization of $878.53 million, a price-to-earnings ratio of 17.57 and a beta of 0.48. The stock has a 50 day moving average of $43.54 and a 200 day moving average of $40.88.

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.