SummerHaven Investment Management LLC Takes Position in First Community Bancshares, Inc. $FCBC

SummerHaven Investment Management LLC purchased a new stake in First Community Bancshares, Inc. (NASDAQ:FCBC) during the third quarter, Holdings Channel reports. The institutional investor purchased 20,724 shares of the bank’s stock, valued at approximately $721,000.

A number of other institutional investors have also recently bought and sold shares of FCBC. Truist Financial Corp bought a new position in shares of First Community Bancshares during the third quarter worth $468,000. State of Alaska Department of Revenue acquired a new position in First Community Bancshares in the third quarter valued at about $25,000. SG Americas Securities LLC bought a new stake in shares of First Community Bancshares in the third quarter worth about $127,000. City Holding Co. increased its holdings in shares of First Community Bancshares by 98.5% in the third quarter. City Holding Co. now owns 1,042 shares of the bank’s stock worth $36,000 after acquiring an additional 517 shares in the last quarter. Finally, Mather Group LLC. acquired a new stake in shares of First Community Bancshares during the third quarter worth about $120,000. Institutional investors and hedge funds own 34.95% of the company’s stock.

Analysts Set New Price Targets

FCBC has been the subject of several research analyst reports. Wall Street Zen upgraded First Community Bancshares from a “sell” rating to a “hold” rating in a research report on Saturday, November 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Community Bancshares in a research note on Friday, October 31st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

First Community Bancshares Stock Down 0.8%

NASDAQ:FCBC opened at $33.58 on Thursday. First Community Bancshares, Inc. has a twelve month low of $31.21 and a twelve month high of $45.57. The business has a 50 day moving average price of $33.81 and a two-hundred day moving average price of $35.04. The company has a market cap of $615.19 million, a P/E ratio of 12.48 and a beta of 0.61.

First Community Bancshares (NASDAQ:FCBC) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.10. The company had revenue of $43.79 million for the quarter, compared to the consensus estimate of $43.20 million. First Community Bancshares had a net margin of 26.32% and a return on equity of 10.16%.

First Community Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.7%. First Community Bancshares’s payout ratio is currently 46.10%.

About First Community Bancshares

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.