First Community Bankshares (NASDAQ:FCBC) Hits New 52-Week Low – Here’s Why

First Community Bankshares, Inc. (NASDAQ:FCBC)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $36.99 and last traded at $37.68, with a volume of 45832 shares. The stock had previously closed at $38.05.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of First Community Bankshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 8th.

First Community Bankshares Price Performance

The firm has a 50-day moving average price of $38.47 and a two-hundred day moving average price of $41.73. The firm has a market capitalization of $690.56 million, a P/E ratio of 13.27 and a beta of 0.52.

First Community Bankshares (NASDAQ:FCBC) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). The firm had revenue of $40.53 million for the quarter, compared to analysts’ expectations of $40.50 million. First Community Bankshares had a net margin of 27.81% and a return on equity of 10.35%.

First Community Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 9th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $1.24 annualized dividend and a yield of 3.29%. First Community Bankshares’s payout ratio is 44.77%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC raised its stake in shares of First Community Bankshares by 84.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 620 shares of the bank’s stock worth $26,000 after purchasing an additional 284 shares during the last quarter. Atala Financial Inc bought a new position in shares of First Community Bankshares in the 4th quarter worth about $59,000. KLP Kapitalforvaltning AS bought a new stake in First Community Bankshares in the 4th quarter valued at about $137,000. Signaturefd LLC grew its stake in shares of First Community Bankshares by 62.3% in the 4th quarter. Signaturefd LLC now owns 3,509 shares of the bank’s stock worth $146,000 after purchasing an additional 1,347 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of First Community Bankshares by 224.8% in the first quarter. Nisa Investment Advisors LLC now owns 5,924 shares of the bank’s stock valued at $223,000 after purchasing an additional 4,100 shares in the last quarter. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

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.