First Community Bancshares (FCBC) Cut to Buy at BidaskClub

First Community Bancshares (NASDAQ:FCBC) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday.

First Community Bancshares stock opened at $34.34 on Tuesday. The company has a market capitalization of $586.96 million, a price-to-earnings ratio of 19.55 and a beta of 0.63. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.15. First Community Bancshares has a twelve month low of $24.02 and a twelve month high of $36.09.

First Community Bancshares (NASDAQ:FCBC) last released its quarterly earnings data on Tuesday, April 24th. The bank reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. First Community Bancshares had a net margin of 19.46% and a return on equity of 8.80%. The firm had revenue of $29.48 million for the quarter.

In other news, CFO David D. Brown sold 965 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $29.51, for a total transaction of $28,477.15. Following the transaction, the chief financial officer now owns 9,636 shares in the company, valued at approximately $284,358.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 3.41% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN increased its stake in shares of First Community Bancshares by 9.3% during the 1st quarter. Wells Fargo & Company MN now owns 25,426 shares of the bank’s stock worth $760,000 after purchasing an additional 2,167 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of First Community Bancshares during the 1st quarter worth $120,000. Renaissance Technologies LLC increased its stake in shares of First Community Bancshares by 3.3% during the 4th quarter. Renaissance Technologies LLC now owns 209,600 shares of the bank’s stock worth $6,022,000 after purchasing an additional 6,700 shares during the last quarter. Prudential Financial Inc. grew its stake in First Community Bancshares by 6.5% in the 1st quarter. Prudential Financial Inc. now owns 114,773 shares of the bank’s stock valued at $3,426,000 after buying an additional 7,000 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new position in First Community Bancshares in the 4th quarter valued at $217,000. Institutional investors own 41.46% of the company’s stock.

About First Community Bancshares

First Community Bancshares, Inc operates as the holding company for First Community Bank that provides various commercial banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement arrangements; commercial, consumer, and real estate mortgage loans, as well as lines of credit; various credit and debit cards, and automated teller machine card services; and corporate and personal trust services.

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