First Community Bancshares, Inc. (FCBC) Position Reduced by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its stake in First Community Bancshares, Inc. (NASDAQ:FCBC) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,357 shares of the bank’s stock after selling 15,354 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.55% of First Community Bancshares worth $7,230,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Trexquant Investment LP bought a new stake in First Community Bancshares in the first quarter valued at $232,000. American International Group Inc. raised its stake in First Community Bancshares by 7.0% during the first quarter. American International Group Inc. now owns 9,612 shares of the bank’s stock worth $240,000 after acquiring an additional 626 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in First Community Bancshares by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 9,780 shares of the bank’s stock worth $244,000 after acquiring an additional 380 shares in the last quarter. Russell Investments Group Ltd. raised its stake in First Community Bancshares by 251.6% during the first quarter. Russell Investments Group Ltd. now owns 10,900 shares of the bank’s stock worth $272,000 after acquiring an additional 7,800 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in First Community Bancshares by 1.6% during the first quarter. Wells Fargo & Company MN now owns 12,582 shares of the bank’s stock worth $314,000 after acquiring an additional 199 shares in the last quarter. 40.26% of the stock is currently owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION WARNING: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.thecerbatgem.com/2017/10/03/first-community-bancshares-inc-fcbc-position-reduced-by-jpmorgan-chase-co.html.
In other First Community Bancshares news, President Gary R. Mills purchased 1,000 shares of the stock in a transaction dated Friday, July 28th. The stock was bought at an average price of $27.38 per share, with a total value of $27,380.00. Following the acquisition, the president now owns 16,533 shares of the company’s stock, valued at $452,673.54. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.33% of the company’s stock.
First Community Bancshares, Inc. (FCBC) opened at 29.81 on Tuesday. First Community Bancshares, Inc. has a 52-week low of $20.47 and a 52-week high of $31.94. The firm has a market capitalization of $507.28 million, a price-to-earnings ratio of 19.99 and a beta of 0.73. The firm has a 50-day moving average of $26.43 and a 200-day moving average of $26.29.
First Community Bancshares (NASDAQ:FCBC) last issued its earnings results on Tuesday, July 25th. The bank reported $0.38 EPS for the quarter, beating the consensus estimate of $0.37 by $0.01. First Community Bancshares had a net margin of 21.56% and a return on equity of 7.38%. The company had revenue of $27.77 million during the quarter. On average, equities research analysts forecast that First Community Bancshares, Inc. will post $1.58 EPS for the current fiscal year.
FCBC has been the subject of a number of analyst reports. BidaskClub cut First Community Bancshares from a “sell” rating to a “strong sell” rating in a report on Saturday, August 12th. Keefe, Bruyette & Woods restated a “hold” rating on shares of First Community Bancshares in a research note on Sunday, July 30th.
First Community Bancshares Company Profile
First Community Bancshares, Inc is a financial holding company. The Company provides commercial banking products and services through its subsidiary First Community Bank (the Bank). The Bank operates as First Community Bank in Virginia, West Virginia, and North Carolina and People’s Community Bank, a Division of First Community Bank, in Tennessee.
Want to see what other hedge funds are holding FCBC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Community Bancshares, Inc. (NASDAQ:FCBC).
Receive News & Stock Ratings for First Community Bancshares Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Community Bancshares Inc. and related stocks with our FREE daily email newsletter.