First Community Bancshares (NASDAQ:FCBC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

First Community Bancshares, Inc. (NASDAQ:FCBC) shares crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $45.45 and traded as high as $49.08. First Community Bancshares shares last traded at $48.74, with a volume of 117,717 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on FCBC. Raymond James Financial initiated coverage on First Community Bancshares in a report on Tuesday, June 30th. They set a “market perform” rating on the stock. Weiss Ratings raised First Community Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Finally, Zacks Research raised First Community Bancshares to a “hold” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

First Community Bancshares Trading Down 2.6%

The company has a market capitalization of $914.11 million, a price-to-earnings ratio of 15.25 and a beta of 0.49. The firm’s 50 day simple moving average is $48.16 and its 200-day simple moving average is $45.50.

First Community Bancshares (NASDAQ:FCBC) last announced its quarterly earnings data on Tuesday, July 21st. The bank reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The company had revenue of $81.71 million during the quarter, compared to the consensus estimate of $51.20 million. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.67%. As a group, sell-side analysts forecast that First Community Bancshares, Inc. will post 3.04 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP Sarah W. Harmon sold 4,329 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $49.21, for a total value of $213,030.09. Following the completion of the sale, the senior vice president directly owned 8,141 shares of the company’s stock, valued at $400,618.61. This trade represents a 34.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Gary Mills sold 3,500 shares of First Community Bancshares stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $47.67, for a total value of $166,845.00. Following the completion of the sale, the president owned 5,798 shares in the company, valued at approximately $276,390.66. This trade represents a 37.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 3.66% of the company’s stock.

Institutional Investors Weigh In On First Community Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of First Community Bancshares in the second quarter valued at about $68,713,000. Bank of New York Mellon Corp acquired a new position in First Community Bancshares during the second quarter worth about $2,320,000. Renaissance Technologies LLC grew its position in First Community Bancshares by 81.0% during the first quarter. Renaissance Technologies LLC now owns 55,188 shares of the bank’s stock worth $2,291,000 after buying an additional 24,694 shares during the period. Bank of America Corp DE acquired a new position in First Community Bancshares during the second quarter worth about $1,613,000. Finally, Hsbc Holdings PLC grew its position in First Community Bancshares by 1.2% during the fourth quarter. Hsbc Holdings PLC now owns 35,959 shares of the bank’s stock worth $1,205,000 after buying an additional 418 shares during the period. Institutional investors and hedge funds own 34.95% of the company’s stock.

About First Community Bancshares

First Community Bancshares, Inc is a bank holding company headquartered in Bluefield, Virginia. Through its subsidiary, First Community Bank, the company provides community banking services to individuals, businesses, nonprofit organizations and local governments.

First Community Bank offers consumer and commercial deposit accounts, residential mortgages, commercial and industrial loans, real estate financing, agricultural lending and other credit products. Its services also include online and mobile banking, treasury management, wealth management, trust and investment services, and insurance-related offerings.

Founded in 1874, First Community has developed a regional banking presence in communities across Virginia, West Virginia, North Carolina and Tennessee.