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

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

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

First Community Bankshares Price Performance

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

First Community Bankshares (NASDAQ:FCBC) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.71 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $40.89 million for the quarter, compared to the consensus estimate of $39.72 million. As a group, research analysts anticipate that First Community Bankshares will post 2.59 earnings per share for the current year.

First Community Bankshares Dividend Announcement

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

Hedge Funds Weigh In On First Community Bankshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in shares of First Community Bankshares in the fourth quarter valued at $49,000. Mather Group LLC. purchased a new stake in shares of First Community Bankshares during the first quarter valued at $128,000. Gratus Capital LLC acquired a new position in shares of First Community Bankshares in the 4th quarter valued at $237,000. SG Americas Securities LLC increased its stake in First Community Bankshares by 17.9% in the 4th 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in 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 worth $443,000 after purchasing an additional 539 shares in the last quarter. 34.95% of the stock is owned by 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.