Gary Mills Sells 3,500 Shares of First Community Bancshares (NASDAQ:FCBC) Stock

First Community Bancshares, Inc. (NASDAQ:FCBC) President Gary Mills sold 3,500 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $47.67, for a total value of $166,845.00. Following the completion of the transaction, the president directly owned 5,798 shares in the company, valued at approximately $276,390.66. This represents a 37.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

First Community Bancshares Trading Up 0.7%

Shares of FCBC stock traded up $0.32 during trading hours on Thursday, hitting $47.96. 79,094 shares of the company were exchanged, compared to its average volume of 81,719. The stock has a market capitalization of $904.86 million, a price-to-earnings ratio of 15.13 and a beta of 0.48. The firm has a fifty day simple moving average of $44.26 and a 200 day simple moving average of $41.52. First Community Bancshares, Inc. has a 52-week low of $31.21 and a 52-week high of $49.35.

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 the consensus estimate of $0.74 by $0.02. First Community Bancshares had a return on equity of 10.82% and a net margin of 28.84%.The business had revenue of $92.09 million for the quarter, compared to the consensus estimate of $51.20 million. Sell-side analysts anticipate that First Community Bancshares, Inc. will post 3.04 EPS for the current year.

First Community Bancshares Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.8%. This is a boost from First Community Bancshares’s previous quarterly dividend of $0.31. First Community Bancshares’s payout ratio is currently 41.64%.

Hedge Funds Weigh In On First Community Bancshares

A number of large investors have recently made changes to their positions in FCBC. Assenagon Asset Management S.A. bought a new stake in shares of First Community Bancshares during the 2nd quarter valued at $461,000. Bank of America Corp DE boosted its stake in First Community Bancshares by 81.5% in the 1st quarter. Bank of America Corp DE now owns 38,645 shares of the bank’s stock worth $1,605,000 after purchasing an additional 17,355 shares during the period. The Manufacturers Life Insurance Company purchased a new position in First Community Bancshares during the 1st quarter valued at about $203,000. Quantinno Capital Management LP increased its position in shares of First Community Bancshares by 60.8% during the first quarter. Quantinno Capital Management LP now owns 26,968 shares of the bank’s stock valued at $1,120,000 after buying an additional 10,195 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of First Community Bancshares by 81.0% during the first quarter. Renaissance Technologies LLC now owns 55,188 shares of the bank’s stock valued at $2,291,000 after buying an additional 24,694 shares during the period. 34.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Raymond James Financial initiated coverage on First Community Bancshares in a research note on Tuesday, June 30th. They issued a “market perform” rating on the stock. Zacks Research upgraded shares of 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 research report on Thursday, June 18th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

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.