First Community Bancshares (NASDAQ:FCBC) Reaches New 1-Year High on Earnings Beat

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

The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $92.09 million for the quarter, compared to analysts’ expectations of $51.20 million. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.82%.

First Community Bancshares Increases Dividend

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

Analyst Ratings Changes

Several research analysts recently issued reports on FCBC shares. Raymond James Financial initiated coverage on shares of First Community Bancshares in a report on Tuesday, June 30th. They set a “market perform” rating for the company. Zacks Research raised First Community Bancshares to a “hold” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of First Community Bancshares in a research report on Thursday, June 18th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On First Community Bancshares

Several institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC acquired a new position in shares of First Community Bancshares during the 3rd quarter worth $26,000. Financial Consulate Inc. acquired a new stake in shares of First Community Bancshares in the fourth quarter valued at about $34,000. Aquatic Capital Management LLC boosted its holdings in First Community Bancshares by 78.0% during the third quarter. Aquatic Capital Management LLC now owns 1,143 shares of the bank’s stock worth $40,000 after buying an additional 501 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in First Community Bancshares by 1,717.1% during the third quarter. Russell Investments Group Ltd. now owns 1,381 shares of the bank’s stock worth $48,000 after buying an additional 1,305 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in First Community Bancshares by 56.0% during the second quarter. BNP Paribas Financial Markets now owns 1,608 shares of the bank’s stock worth $63,000 after buying an additional 577 shares during the period. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

First Community Bancshares Price Performance

The company has a market capitalization of $891.80 million, a price-to-earnings ratio of 14.91 and a beta of 0.48. The firm’s 50-day simple moving average is $43.75 and its two-hundred day simple moving average is $41.08.

About First Community Bancshares

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.