First Community Bankshares (NASDAQ:FCBC) Downgraded by BidaskClub

BidaskClub downgraded shares of First Community Bankshares (NASDAQ:FCBC) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, BidAskClub reports.

Shares of First Community Bankshares stock opened at $33.65 on Thursday. The company has a market cap of $530.22 million, a price-to-earnings ratio of 14.82 and a beta of 0.69. First Community Bankshares has a 12-month low of $27.06 and a 12-month high of $36.48.

First Community Bankshares (NASDAQ:FCBC) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52. The firm had revenue of $30.27 million during the quarter. First Community Bankshares had a return on equity of 11.11% and a net margin of 29.57%.

The firm also recently disclosed a monthly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 3rd were given a $0.25 dividend. This represents a $3.00 annualized dividend and a dividend yield of 8.92%. This is a boost from First Community Bankshares’s previous monthly dividend of $0.07. The ex-dividend date of this dividend was Thursday, May 2nd.

Several institutional investors and hedge funds have recently bought and sold shares of FCBC. Dimensional Fund Advisors LP boosted its position in shares of First Community Bankshares by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,196,461 shares of the bank’s stock valued at $39,651,000 after acquiring an additional 19,347 shares during the period. Geode Capital Management LLC boosted its position in shares of First Community Bankshares by 11.8% in the first quarter. Geode Capital Management LLC now owns 172,711 shares of the bank’s stock valued at $5,723,000 after acquiring an additional 18,170 shares during the period. Dalton Greiner Hartman Maher & Co. boosted its position in shares of First Community Bankshares by 8.0% in the first quarter. Dalton Greiner Hartman Maher & Co. now owns 155,645 shares of the bank’s stock valued at $5,158,000 after acquiring an additional 11,479 shares during the period. Acadian Asset Management LLC boosted its position in shares of First Community Bankshares by 28.2% in the fourth quarter. Acadian Asset Management LLC now owns 37,279 shares of the bank’s stock valued at $1,174,000 after acquiring an additional 8,203 shares during the period. Finally, Rhumbline Advisers boosted its position in shares of First Community Bankshares by 40.9% in the fourth quarter. Rhumbline Advisers now owns 22,990 shares of the bank’s stock valued at $724,000 after acquiring an additional 6,677 shares during the period. 41.93% 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 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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