First Community Bankshares, Inc. (NASDAQ:FCBC) Raises Dividend to $0.31 Per Share

First Community Bankshares, Inc. (NASDAQ:FCBC) declared a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Friday, August 9th will be paid a dividend of 0.31 per share by the bank on Friday, August 23rd. This represents a $1.24 annualized dividend and a yield of 2.87%. The ex-dividend date is Friday, August 9th. This is a boost from First Community Bankshares’s previous quarterly dividend of $0.29.

First Community Bankshares has increased its dividend by an average of 5.1% per year over the last three years and has raised its dividend every year for the last 12 years. First Community Bankshares has a payout ratio of 45.7% meaning its dividend is sufficiently covered by earnings.

First Community Bankshares Stock Down 0.8 %

NASDAQ:FCBC opened at $43.26 on Thursday. First Community Bankshares has a 12-month low of $28.13 and a 12-month high of $44.95. The stock’s fifty day simple moving average is $35.99 and its 200-day simple moving average is $34.51. The firm has a market capitalization of $793.82 million, a P/E ratio of 15.96 and a beta of 0.53.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FCBC. StockNews.com upgraded First Community Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Hovde Group initiated coverage on First Community Bankshares in a research note on Friday, June 28th. They issued a “market perform” rating and a $38.00 target price on the stock.

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.