First Community Bancshares (NASDAQ:FCBC) Sees Unusually-High Trading Volume After Analyst Upgrade

by · The Cerbat Gem

Shares of First Community Bancshares, Inc. (NASDAQ:FCBC – Get Free Report) saw strong trading volume on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. Approximately 201,500 shares were traded during trading, an increase of 129% from the average daily volume of 87,830 shares. The stock last traded at $47.94 and had previously closed at $46.94.

Separately, Weiss Ratings raised First Community Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Read Our Latest Report on FCBC

Insider Transactions at First Community Bancshares

In other First Community Bancshares news, SVP Sarah W. Harmon sold 4,329 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $49.21, for a total value of $213,030.09. Following the transaction, the senior vice president directly owned 8,141 shares in the company, valued at $400,618.61. This represents a 34.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC bought a new position in shares of First Community Bancshares during the 2nd quarter worth approximately $25,000. Farther Finance Advisors LLC lifted its position in First Community Bancshares by 333.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,070 shares of the bank’s stock worth $50,000 after acquiring an additional 823 shares during the period. Nisa Investment Advisors LLC boosted its position in First Community Bancshares by 79.0% in the third quarter. Nisa Investment Advisors LLC now owns 1,407 shares of the bank’s stock valued at $66,000 after buying an additional 621 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of First Community Bancshares by 3,250.9% in the third quarter. Parallel Advisors LLC now owns 1,776 shares of the bank’s stock worth $83,000 after acquiring an additional 1,723 shares during the period. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in First Community Bancshares during the 2nd quarter worth about $115,000. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

First Community Bancshares Stock Up 0.4%

The company has a market capitalization of $886.31 million, a PE ratio of 14.16 and a beta of 0.50. The firm has a 50-day moving average of $47.86 and a two-hundred day moving average of $43.92.

First Community Bancshares (NASDAQ:FCBC – Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. First Community Bancshares had a net margin of 29.48% and a return on equity of 10.98%. The firm had revenue of $48.51 million for the quarter, compared to the consensus estimate of $47.19 million. Equities analysts predict that First Community Bancshares, Inc. will post 3.05 EPS for the current fiscal year.

First Community Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be given a dividend of $0.33 per share. The ex-dividend date is Friday, November 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. First Community Bancshares’s dividend payout ratio (DPR) is 39.88%.

About First Community Bancshares

(Get Free Report)

First Community Bancshares, Inc is a bank holding company headquartered in Bluefield, Virginia. Its principal subsidiary, First Community Bank, provides community banking services to individuals, families, businesses and organizations.

The bank offers a range of deposit products, including checking and savings accounts, money market accounts and certificates of deposit. Its lending activities include residential mortgages, home equity loans, consumer loans, commercial and industrial financing, commercial real estate loans and other credit products for businesses and communities.

First Community Bank also provides services such as online and mobile banking, treasury management, investment and wealth management services, and other financial solutions.

Read More