First Community Bancshares (NASDAQ:FCBC) Announces Earnings Results, Beats Expectations By $0.02 EPS

First Community Bancshares (NASDAQ:FCBC) posted its earnings results on Tuesday. The bank reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02, FiscalAI reports. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.82%. The business had revenue of $92.09 million for the quarter, compared to analyst estimates of $51.20 million.

First Community Bancshares Price Performance

NASDAQ:FCBC opened at $46.91 on Thursday. The business has a 50 day moving average of $43.65 and a 200 day moving average of $40.98. The company has a market capitalization of $885.19 million, a price-to-earnings ratio of 14.80 and a beta of 0.48. First Community Bancshares has a 1-year low of $31.21 and a 1-year high of $47.50.

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 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 positive change from First Community Bancshares’s previous quarterly dividend of $0.31. First Community Bancshares’s payout ratio is 46.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FCBC. Advisory Services Network LLC bought a new stake in shares of First Community Bancshares in the 3rd quarter worth approximately $26,000. Aquatic Capital Management LLC boosted its stake in shares of First Community Bancshares by 78.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,143 shares of the bank’s stock valued at $40,000 after purchasing an additional 501 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of First Community Bancshares by 1,717.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,381 shares of the bank’s stock valued at $48,000 after purchasing an additional 1,305 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of First Community Bancshares by 56.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,608 shares of the bank’s stock valued at $63,000 after purchasing an additional 577 shares during the last quarter. Finally, Quadrant Capital Group LLC purchased a new position in First Community Bancshares in the 4th quarter worth $82,000. 34.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

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.