Ameriprise Financial Inc. decreased its stake in shares of First Community Bancshares, Inc. (NASDAQ:FCBC) by 39.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,718 shares of the bank’s stock after selling 27,651 shares during the period. Ameriprise Financial Inc. owned 0.25% of First Community Bancshares worth $1,067,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in FCBC. UBS Asset Management Americas Inc. purchased a new position in shares of First Community Bancshares during the fourth quarter valued at approximately $235,000. Russell Investments Group Ltd. raised its position in shares of First Community Bancshares by 251.6% in the first quarter. Russell Investments Group Ltd. now owns 10,900 shares of the bank’s stock valued at $272,000 after buying an additional 7,800 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of First Community Bancshares by 1.6% in the first quarter. Wells Fargo & Company MN now owns 12,582 shares of the bank’s stock valued at $314,000 after buying an additional 199 shares in the last quarter. Strs Ohio raised its position in shares of First Community Bancshares by 11.2% in the first quarter. Strs Ohio now owns 26,900 shares of the bank’s stock valued at $671,000 after buying an additional 2,700 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of First Community Bancshares by 3.5% in the first quarter. Nationwide Fund Advisors now owns 32,943 shares of the bank’s stock valued at $823,000 after buying an additional 1,113 shares in the last quarter. Hedge funds and other institutional investors own 45.62% of the company’s stock.
First Community Bancshares, Inc. (NASDAQ:FCBC) opened at 27.85 on Tuesday. The stock has a market cap of $473.70 million, a price-to-earnings ratio of 18.93 and a beta of 0.71. The stock’s 50 day moving average price is $26.39 and its 200 day moving average price is $27.12. First Community Bancshares, Inc. has a 52 week low of $20.47 and a 52 week high of $31.94.
First Community Bancshares (NASDAQ:FCBC) last posted its earnings results on Tuesday, April 25th. The bank reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. First Community Bancshares had a return on equity of 7.46% and a net margin of 21.17%. The firm had revenue of $26.83 million for the quarter. On average, analysts forecast that First Community Bancshares, Inc. will post $1.55 earnings per share for the current year.
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Separately, Keefe, Bruyette & Woods set a $27.00 price target on First Community Bancshares and gave the company a “hold” rating in a research note on Tuesday, April 4th.
In other news, President Gary R. Mills bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were purchased at an average price of $25.98 per share, with a total value of $25,980.00. Following the purchase, the president now owns 16,533 shares in the company, valued at $429,527.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have purchased 1,200 shares of company stock worth $31,125. 3.33% of the stock is owned by corporate insiders.
First Community Bancshares Company Profile
First Community Bancshares, Inc is a financial holding company. The Company provides commercial banking products and services through its subsidiary First Community Bank (the Bank). The Bank operates as First Community Bank in Virginia, West Virginia, and North Carolina and People’s Community Bank, a Division of First Community Bank, in Tennessee.
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