First Community Bancshares (NASDAQ:FCBC) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

First Community Bancshares, Inc. (NASDAQ:FCBC)’s stock price crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $44.57 and traded as high as $47.47. First Community Bancshares shares last traded at $47.43, with a volume of 63,981 shares.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FCBC. Weiss Ratings upgraded shares of First Community Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Zacks Research upgraded shares of First Community Bancshares to a “hold” rating in a research note on Wednesday, July 1st. Finally, Raymond James Financial began coverage on shares of First Community Bancshares in a research report on Tuesday, June 30th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold”.

First Community Bancshares Trading Up 0.4%

The stock has a market cap of $900.49 million, a price-to-earnings ratio of 15.02 and a beta of 0.47. The stock’s 50 day moving average is $48.07 and its two-hundred day moving average is $44.59.

First Community Bancshares (NASDAQ:FCBC) last posted its quarterly earnings data on Tuesday, July 21st. The bank reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.67%. The company had revenue of $81.71 million for the quarter, compared to analyst estimates of $51.20 million. On average, sell-side analysts predict that First Community Bancshares, Inc. will post 3.04 EPS for the current year.

First Community Bancshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a $0.33 dividend. This is a boost from First Community Bancshares’s previous quarterly dividend of $0.31. The ex-dividend date was Friday, August 7th. This represents a $1.32 annualized dividend and a yield of 2.8%. First Community Bancshares’s payout ratio is presently 41.64%.

Insider Activity at First Community Bancshares

In other First Community Bancshares news, President Gary Mills sold 3,500 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $47.67, for a total transaction of $166,845.00. Following the completion of the sale, the president directly owned 5,798 shares of the company’s stock, valued at approximately $276,390.66. This trade represents a 37.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sarah W. Harmon sold 4,329 shares of First Community Bancshares stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $49.21, for a total value of $213,030.09. Following the completion of the transaction, the senior vice president owned 8,141 shares in the company, valued at $400,618.61. This trade represents a 34.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Community Bancshares

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of First Community Bancshares during the second quarter worth about $68,713,000. Bank of New York Mellon Corp acquired a new stake in First Community Bancshares in the second quarter valued at about $2,320,000. Renaissance Technologies LLC boosted its holdings in First Community Bancshares by 81.0% in the 1st quarter. Renaissance Technologies LLC now owns 55,188 shares of the bank’s stock valued at $2,291,000 after purchasing an additional 24,694 shares in the last quarter. Bank of America Corp DE purchased a new stake in First Community Bancshares in the 2nd quarter valued at approximately $1,613,000. Finally, Hsbc Holdings PLC increased its position in First Community Bancshares by 1.2% during the 4th quarter. Hsbc Holdings PLC now owns 35,959 shares of the bank’s stock worth $1,205,000 after purchasing an additional 418 shares during the period. Hedge funds and other institutional investors own 34.95% of the company’s stock.

About First Community Bancshares

First Community Bancshares, Inc is a bank holding company headquartered in Bluefield, Virginia. Its principal subsidiary, First Community Bank, provides financial services to individuals, businesses, nonprofit organizations and public-sector customers through a community banking model.

The bank offers deposit products, consumer and commercial lending, residential mortgage loans, online and mobile banking, treasury management and other traditional banking services. It also provides investment, trust, wealth management and insurance services through affiliated or related business lines.

First Community Bank serves communities across Virginia, West Virginia, North Carolina and Tennessee through a network of branches and offices.