First Community Bankshares (NASDAQ:FCBC) Research Coverage Started at Hovde Group

Hovde Group began coverage on shares of First Community Bankshares (NASDAQ:FCBC) in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage issued a market perform rating and a $38.00 target price on the bank’s stock.

Separately, StockNews.com raised First Community Bankshares from a sell rating to a hold rating in a report on Saturday, April 27th.

First Community Bankshares Price Performance

FCBC stock opened at $36.84 on Friday. First Community Bankshares has a 1 year low of $28.13 and a 1 year high of $39.23. The firm has a market capitalization of $676.01 million, a P/E ratio of 13.59 and a beta of 0.52. The business’s 50-day moving average is $34.45 and its two-hundred day moving average is $34.36.

First Community Bankshares (NASDAQ:FCBC) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. First Community Bankshares had a net margin of 27.10% and a return on equity of 11.04%. The company had revenue of $40.89 million during the quarter, compared to the consensus estimate of $39.72 million. On average, analysts expect that First Community Bankshares will post 2.59 EPS for the current year.

First Community Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were paid a $0.29 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.16 annualized dividend and a yield of 3.15%. First Community Bankshares’s dividend payout ratio is currently 42.80%.

Institutional Trading of First Community Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC purchased a new position in shares of First Community Bankshares in the 4th quarter valued at $49,000. Mather Group LLC. acquired a new position in First Community Bankshares in the first quarter valued at $128,000. Gratus Capital LLC purchased a new position in shares of First Community Bankshares during the fourth quarter worth about $237,000. SG Americas Securities LLC grew its holdings in shares of First Community Bankshares by 17.9% during the fourth quarter. SG Americas Securities LLC now owns 9,700 shares of the bank’s stock worth $360,000 after purchasing an additional 1,472 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of First Community Bankshares by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,781 shares of the bank’s stock worth $443,000 after purchasing an additional 539 shares in the last quarter. Institutional investors and hedge funds own 34.95% of the company’s stock.

About First Community Bankshares

First Community Bankshares, Inc operates as the financial holding company for First Community Bank that provides various banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement plans; and commercial, consumer real estate, and consumer and other loans.