First Community Bankshares (NASDAQ:FCBC) Coverage Initiated by Analysts at Hovde Group

Hovde Group began coverage on shares of First Community Bankshares (NASDAQ:FCBC) in a research note released on Friday, Marketbeat reports. The firm issued a market perform rating and a $38.00 price objective on the bank’s stock.

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

First Community Bankshares Stock Performance

FCBC stock opened at $36.84 on Friday. The company’s fifty day moving average price is $34.45 and its 200-day moving average price is $34.36. First Community Bankshares has a one year low of $28.13 and a one year high of $39.23. The company has a market capitalization of $676.01 million, a PE ratio of 13.59 and a beta of 0.52.

First Community Bankshares (NASDAQ:FCBC) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $39.72 million. On average, research analysts predict that First Community Bankshares will post 2.59 EPS for the current fiscal year.

First Community Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were issued a $0.29 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.15%. First Community Bankshares’s dividend payout ratio (DPR) is presently 42.80%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of First Community Bankshares by 12.6% in the 1st quarter. Vanguard Group Inc. now owns 916,310 shares of the bank’s stock valued at $31,732,000 after purchasing an additional 102,183 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in shares of First Community Bankshares during the 1st quarter valued at approximately $772,000. Axxcess Wealth Management LLC purchased a new stake in First Community Bankshares during the 4th quarter valued at $730,000. Assenagon Asset Management S.A. bought a new stake in First Community Bankshares in the fourth quarter worth $462,000. Finally, Panagora Asset Management Inc. boosted its stake in First Community Bankshares by 34.3% during the fourth quarter. Panagora Asset Management Inc. now owns 42,379 shares of the bank’s stock worth $1,572,000 after buying an additional 10,824 shares during the period. Institutional investors own 34.95% of the company’s stock.

First Community Bankshares Company Profile

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.