First Community Bancshares (NASDAQ:FCBC) Sees Large Volume Increase Following Analyst Upgrade

First Community Bancshares, Inc. (NASDAQ:FCBC) saw an uptick in trading volume on Monday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. 201,500 shares were traded during mid-day 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 analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Insider Activity

In related news, SVP Sarah W. Harmon sold 4,329 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was 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 directly owned 8,141 shares in the company, valued at approximately $400,618.61. This represents a 34.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Community Bancshares

Hedge funds have recently modified their holdings of the business. Parallel Advisors LLC lifted its holdings in First Community Bancshares by 3,250.9% during the 3rd quarter. Parallel Advisors LLC now owns 1,776 shares of the bank’s stock worth $83,000 after buying an additional 1,723 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of First Community Bancshares during the third quarter worth $576,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of First Community Bancshares in the third quarter valued at $276,000. Axxcess Wealth Management LLC raised its stake in shares of First Community Bancshares by 10.4% in the third quarter. Axxcess Wealth Management LLC now owns 18,802 shares of the bank’s stock valued at $884,000 after acquiring an additional 1,767 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 purchasing an additional 621 shares during the period. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

First Community Bancshares Stock Up 0.4%

The stock has a market capitalization of $886.31 million, a PE ratio of 14.16 and a beta of 0.50. The stock has a fifty day moving average of $47.86 and a 200-day moving average of $43.92.

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

First Community Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 13th. First Community Bancshares’s dividend payout ratio is 39.88%.

About First Community Bancshares

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.