First Community Bankshares (FCBC) Lowered to Buy at BidaskClub

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BidaskClub lowered shares of First Community Bankshares (NASDAQ:FCBC) from a strong-buy rating to a buy rating in a research note published on Wednesday.

FCBC opened at $34.58 on Wednesday. First Community Bankshares has a fifty-two week low of $25.85 and a fifty-two week high of $36.09. The firm has a market capitalization of $558.59 million, a price-to-earnings ratio of 16.10 and a beta of 0.54.

First Community Bankshares (NASDAQ:FCBC) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.08. First Community Bankshares had a net margin of 22.55% and a return on equity of 10.50%. The business had revenue of $28.84 million for the quarter.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Friday, November 2nd will be given a $0.21 dividend. The ex-dividend date is Thursday, November 1st. This represents a $0.84 annualized dividend and a dividend yield of 2.43%.

In other news, COO E Stephen Lilly sold 8,629 shares of First Community Bankshares 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 sale, the chief operating officer now owns 17,926 shares in the company, valued at $590,123.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.41% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in FCBC. Canandaigua National Bank & Trust Co. acquired a new stake in shares of First Community Bankshares in the second quarter valued at about $205,000. Signaturefd LLC acquired a new stake in shares of First Community Bankshares in the second quarter valued at about $231,000. Citadel Advisors LLC acquired a new stake in shares of First Community Bankshares in the second quarter valued at about $438,000. Wells Fargo & Company MN grew its position in shares of First Community Bankshares by 9.3% in the first quarter. Wells Fargo & Company MN now owns 25,426 shares of the bank’s stock valued at $760,000 after purchasing an additional 2,167 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of First Community Bankshares in the second quarter valued at about $832,000. Institutional investors and hedge funds own 42.39% of the company’s stock.

About First Community Bankshares

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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