First Community Bancshares (NASDAQ:FCBC) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

First Community Bancshares (NASDAQ:FCBC) announced its quarterly earnings results on Tuesday. The bank reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05, FiscalAI reports. The business had revenue of $92.09 million during the quarter, compared to analyst estimates of $51.20 million. First Community Bancshares had a return on equity of 10.44% and a net margin of 25.89%.

First Community Bancshares Price Performance

NASDAQ:FCBC traded down $0.02 during midday trading on Tuesday, reaching $44.63. The stock had a trading volume of 70,009 shares, compared to its average volume of 79,867. The stock has a market capitalization of $842.03 million, a P/E ratio of 16.84 and a beta of 0.48. First Community Bancshares has a 1-year low of $31.21 and a 1-year high of $45.84. The firm’s fifty day simple moving average is $43.49 and its 200-day simple moving average is $40.81.

First Community Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 15th were paid a $0.31 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.24 dividend on an annualized basis and a yield of 2.8%. First Community Bancshares’s dividend payout ratio (DPR) is presently 46.79%.

Institutional Investors Weigh In On First Community Bancshares

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in shares of First Community Bancshares by 87.3% in the first quarter. AQR Capital Management LLC now owns 18,145 shares of the bank’s stock worth $684,000 after purchasing an additional 8,457 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in First Community Bancshares by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,124 shares of the bank’s stock worth $382,000 after buying an additional 474 shares during the period. Jane Street Group LLC bought a new position in First Community Bancshares in the 1st quarter worth approximately $976,000. Legal & General Group Plc lifted its holdings in shares of First Community Bancshares by 17.4% during the second quarter. Legal & General Group Plc now owns 16,659 shares of the bank’s stock worth $653,000 after buying an additional 2,468 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of First Community Bancshares by 6.7% during the second quarter. American Century Companies Inc. now owns 41,198 shares of the bank’s stock worth $1,614,000 after buying an additional 2,582 shares during the last quarter. 34.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on FCBC. Raymond James Financial began coverage on shares of First Community Bancshares in a research report on Tuesday, June 30th. They set a “market perform” rating on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of First Community Bancshares in a research report on Thursday, June 18th. Finally, Zacks Research upgraded shares of First Community Bancshares to a “hold” rating in a report on Wednesday, July 1st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Community Bancshares presently has a consensus rating of “Hold”.

First Community Bancshares Company Profile

First Community Bancshares, Inc (NASDAQ: FCBC) is a bank holding company headquartered in Mebane, North Carolina, that delivers banking and financial services through its wholly owned subsidiary, First Community Bank. The company’s core focus is on relationship-driven community banking, offering clients a blend of personalized service and competitive digital banking capabilities. It serves a diverse clientele that includes individuals, families, small and mid-sized businesses, nonprofit organizations and professional practices.

The bank provides a broad spectrum of deposit products, such as checking, savings, money market and certificate of deposit accounts, alongside treasury management and payment processing solutions.