BidaskClub Upgrades First Community Bancshares (FCBC) to “Buy”

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First Community Bancshares (NASDAQ:FCBC) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

FCBC opened at $34.39 on Friday. The stock has a market capitalization of $562.88 million, a PE ratio of 17.33 and a beta of 0.63. First Community Bancshares has a 1-year low of $25.10 and a 1-year high of $36.09. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.15.

First Community Bancshares (NASDAQ:FCBC) last released its earnings results on Tuesday, July 24th. The bank reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.02. The company had revenue of $29.28 million during the quarter. First Community Bancshares had a net margin of 21.33% and a return on equity of 9.65%.

In other news, COO E Stephen Lilly sold 8,629 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $32.92, for a total value of $284,066.68. Following the completion of the sale, the chief operating officer now owns 17,926 shares of the company’s stock, valued at approximately $590,123.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.41% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FCBC. Dalton Greiner Hartman Maher & Co. increased its position in shares of First Community Bancshares by 50.6% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 145,614 shares of the bank’s stock worth $4,639,000 after purchasing an additional 48,906 shares during the last quarter. Systematic Financial Management LP increased its position in shares of First Community Bancshares by 7.0% in the 2nd quarter. Systematic Financial Management LP now owns 691,035 shares of the bank’s stock worth $22,016,000 after purchasing an additional 44,995 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Community Bancshares by 3.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,130,074 shares of the bank’s stock worth $36,005,000 after purchasing an additional 41,678 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of First Community Bancshares in the 2nd quarter worth about $832,000. Finally, Renaissance Technologies LLC grew its position in shares of First Community Bancshares by 10.8% during the 2nd quarter. Renaissance Technologies LLC now owns 243,496 shares of the bank’s stock valued at $7,758,000 after buying an additional 23,696 shares during the last quarter. 42.43% of the stock is owned by institutional investors.

About First Community Bancshares

First Community Bancshares, Inc operates as the holding company for First Community Bank that provides various commercial banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement arrangements; commercial, consumer, and real estate mortgage loans, as well as lines of credit; various credit and debit cards, and automated teller machine card services; and corporate and personal trust services.

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