Legal & General Group Plc Makes New $611,000 Investment in First Community Bancshares, Inc. $FCBC

Legal & General Group Plc acquired a new stake in shares of First Community Bancshares, Inc. (NASDAQ:FCBC) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,765 shares of the bank’s stock, valued at approximately $611,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FCBC. Global Retirement Partners LLC purchased a new position in shares of First Community Bancshares in the second quarter worth approximately $25,000. Advisory Services Network LLC acquired a new stake in shares of First Community Bancshares during the third quarter valued at approximately $26,000. Aquatic Capital Management LLC lifted its position in shares of First Community Bancshares by 78.0% in the 3rd quarter. Aquatic Capital Management LLC now owns 1,143 shares of the bank’s stock valued at $40,000 after acquiring an additional 501 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of First Community Bancshares by 1,717.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,381 shares of the bank’s stock valued at $48,000 after acquiring an additional 1,305 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in First Community Bancshares by 56.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,608 shares of the bank’s stock worth $63,000 after purchasing an additional 577 shares during the period. 34.95% of the stock is currently owned by institutional investors and hedge funds.

First Community Bancshares Price Performance

Shares of FCBC opened at $48.16 on Wednesday. The company has a market capitalization of $910.71 million, a price-to-earnings ratio of 15.19 and a beta of 0.47. First Community Bancshares, Inc. has a fifty-two week low of $31.21 and a fifty-two week high of $50.17. The business’s 50-day moving average is $47.37 and its 200-day moving average is $43.96.

First Community Bancshares (NASDAQ:FCBC) last posted its quarterly earnings results on Tuesday, July 21st. The bank reported $0.76 EPS for the quarter, topping the consensus estimate of $0.74 by $0.02. First Community Bancshares had a net margin of 28.84% and a return on equity of 10.67%. The business had revenue of $81.71 million during the quarter, compared to analysts’ expectations of $51.20 million. Equities research analysts expect that First Community Bancshares, Inc. will post 3.04 earnings per share for the current fiscal year.

First Community Bancshares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, August 7th. This is a positive change from First Community Bancshares’s previous quarterly dividend of $0.31. First Community Bancshares’s payout ratio is currently 41.64%.

Insiders Place Their Bets

In other news, President Gary R. Mills sold 3,500 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $47.67, for a total value of $166,845.00. Following the transaction, the president directly owned 5,798 shares of the company’s stock, valued at approximately $276,390.66. This represents a 37.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Sarah W. Harmon sold 4,329 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $49.21, for a total value of $213,030.09. Following the sale, the senior vice president owned 8,141 shares of the company’s stock, valued at approximately $400,618.61. This represents a 34.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.66% of the company’s stock.

Wall Street Analysts Forecast Growth

FCBC has been the topic of several research analyst reports. Raymond James Financial initiated coverage on shares of First Community Bancshares in a research report on Tuesday, June 30th. They set a “market perform” rating on the stock. Weiss Ratings upgraded First Community Bancshares from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, August 11th. Finally, Zacks Research raised First Community Bancshares to a “hold” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

About First Community Bancshares

First Community Bancshares, Inc (NASDAQ: FCBC) is a bank holding company headquartered in Mebane, North Carolina, that delivers banking and financial services through its wholly owned subsidiary, First Community Bank. The company’s core focus is on relationship-driven community banking, offering clients a blend of personalized service and competitive digital banking capabilities. It serves a diverse clientele that includes individuals, families, small and mid-sized businesses, nonprofit organizations and professional practices.

The bank provides a broad spectrum of deposit products, such as checking, savings, money market and certificate of deposit accounts, alongside treasury management and payment processing solutions.