First Community Bankshares (NASDAQ:FCBC) Sets New 52-Week High Following Dividend Announcement

Shares of First Community Bankshares, Inc. (NASDAQ:FCBC) reached a new 52-week high during mid-day trading on Tuesday following a dividend announcement from the company. The stock traded as high as $43.45 and last traded at $43.29, with a volume of 7014 shares. The stock had previously closed at $42.37.

The newly announced dividend which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, August 9th. This is a positive change from First Community Bankshares’s previous quarterly dividend of $0.29. First Community Bankshares’s dividend payout ratio (DPR) is 42.80%.

Analyst Upgrades and Downgrades

FCBC has been the topic of several research analyst reports. Hovde Group initiated coverage on First Community Bankshares in a research report on Friday, June 28th. They set a “market perform” rating and a $38.00 price target on the stock. 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 Stock Up 4.3 %

The company has a market capitalization of $827.59 million, a price-to-earnings ratio of 16.66 and a beta of 0.53. The stock has a fifty day moving average price of $36.14 and a two-hundred day moving average price of $34.57.

First Community Bankshares (NASDAQ:FCBC) last released its earnings results on Tuesday, April 23rd. The bank reported $0.71 EPS for the quarter, beating the consensus estimate of $0.60 by $0.11. The firm had revenue of $40.89 million during the quarter, compared to analyst estimates of $39.72 million. First Community Bankshares had a return on equity of 11.33% and a net margin of 28.30%.

Hedge Funds Weigh In On First Community Bankshares

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in First Community Bankshares by 1.6% during the third quarter. Vanguard Group Inc. now owns 789,887 shares of the bank’s stock valued at $23,262,000 after acquiring an additional 12,742 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of First Community Bankshares in the fourth quarter worth about $462,000. GAMMA Investing LLC purchased a new stake in shares of First Community Bankshares in the fourth quarter worth about $49,000. Axxcess Wealth Management LLC purchased a new position in First Community Bankshares in the fourth quarter valued at about $730,000. Finally, SG Americas Securities LLC boosted its holdings in First Community Bankshares by 17.9% in the fourth quarter. SG Americas Securities LLC now owns 9,700 shares of the bank’s stock valued at $360,000 after purchasing an additional 1,472 shares during the last quarter. 34.95% of the stock is currently owned by institutional investors and hedge funds.

About First Community Bankshares

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.