Hovde Group Begins Coverage on First Community Bankshares (NASDAQ:FCBC)

Hovde Group initiated coverage on shares of First Community Bankshares (NASDAQ:FCBC) in a report published on Friday, MarketBeat reports. The brokerage issued a market perform rating and a $38.00 price target on the bank’s stock.

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

First Community Bankshares Trading Up 2.9 %

Shares of NASDAQ FCBC opened at $36.84 on Friday. The stock has a market cap of $676.16 million, a P/E ratio of 13.59 and a beta of 0.52. The business’s fifty day simple moving average is $34.45 and its 200-day simple moving average is $34.33. First Community Bankshares has a 12-month low of $28.13 and a 12-month high of $39.23.

First Community Bankshares (NASDAQ:FCBC) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.11. First Community Bankshares had a return on equity of 11.04% and a net margin of 27.10%. The business had revenue of $40.89 million during the quarter, compared to analysts’ expectations of $39.72 million. On average, equities analysts forecast 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. Investors of record on Friday, May 10th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.15%. The ex-dividend date was Thursday, May 9th. First Community Bankshares’s payout ratio is 42.80%.

Hedge Funds Weigh In On First Community Bankshares

Hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of First Community Bankshares by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,781 shares of the bank’s stock valued at $443,000 after buying an additional 539 shares in the last quarter. Summit Financial Group Inc. boosted its stake in First Community Bankshares by 2.6% in the fourth quarter. Summit Financial Group Inc. now owns 38,442 shares of the bank’s stock valued at $1,426,000 after acquiring an additional 990 shares in the last quarter. GAMMA Investing LLC acquired a new position in First Community Bankshares in the fourth quarter valued at $49,000. SG Americas Securities LLC grew its holdings in shares of First Community Bankshares by 17.9% during the fourth quarter. SG Americas Securities LLC now owns 9,700 shares of the bank’s stock worth $360,000 after purchasing an additional 1,472 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of First Community Bankshares by 8.0% during the first quarter. Empowered Funds LLC now owns 26,012 shares of the bank’s stock worth $901,000 after purchasing an additional 1,925 shares in the last quarter. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

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.