Hovde Group Initiates Coverage of First Community Bankshares (FCBC) with Market Perform Recommendation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 29 2024
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Source: NASDAQ.COM
- Hovde Group Coverage: Hovde Group initiated coverage of First Community Bankshares with a Market Perform recommendation on June 28, 2024.
- Analyst Price Forecast: The average one-year price target for First Community Bankshares suggests a 5.86% downside from the latest closing price.
- Fund Sentiment: There are 241 funds or institutions reporting positions in First Community Bankshares, with an increase in average portfolio weight and total shares owned by institutions.
- Other Shareholders Activity: Various firms like Systematic Financial Management, iShares Russell 2000 ETF, Vanguard Total Stock Market Index Fund, and Geode Capital Management have adjusted their holdings in FCBC.
- Company Background: First Community Bankshares is a financial holding company providing banking products and services through its subsidiary, First Community Bank, with operations in multiple states.
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Analyst Views on FCBC
About FCBC
First Community Bankshares, Inc. is a financial holding company, which provides banking products and services through its wholly owned subsidiary, First Community Bank (the Bank). The Company operates in the Community Banking segment, which consists of all operations, including commercial and consumer banking, lending activities, and wealth management. The Bank offers wealth management and investment advice through its Trust Division and wholly owned subsidiary First Community Wealth Management. Its commercial loans consist of loans to small and mid-size industrial, commercial, and service companies. Its consumer real estate loans consist of loans to individuals within its market footprint for home equity loans and lines of credit and for the purpose of financing residential properties. Its consumer and other loans consist of loans to individuals that include, but are not limited to, automobiles, credit cards, personal lines of credit, boats, mobile homes, and other consumer goods.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
First Community Bankshares Completes Acquisition of Hometown Bancshares
- Acquisition Completed: First Community Bankshares finalized its acquisition of Hometown Bancshares and its subsidiary Union Bank on January 23, 2026, marking a strategic expansion into the West Virginia market and enhancing its potential for low-cost core deposit growth.
- Shareholder Returns: Under the merger agreement, Hometown shareholders will receive 11.706 shares of First Community common stock for each share of Hometown common stock, reflecting a commitment to shareholder value while also presenting potential stock price appreciation opportunities for First Community's investors.
- Market Expansion: Hometown's eight branches will reopen as First Community Bank branches on January 26, 2026, further solidifying First Community's presence in the Parkersburg-Marietta-Vienna MSA and enhancing its customer service capabilities.
- Asset Scale: As of December 2025, Hometown reported approximately $415 million in total assets, $172 million in total loans, and $376 million in total deposits, which will provide First Community with a stronger deposit base and a broader range of product and technology offerings.
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First Community Bankshares Declares $1 Special Cash Dividend per Share
- Special Cash Dividend: First Community Bankshares' Board of Directors declared a special cash dividend of $1 per common share, totaling approximately $18.32 million, reflecting the company's strong capital management and commitment to shareholder returns.
- Earnings and Dividend Strategy: The company earned about $36.33 million in the first three quarters of 2025, paying regular dividends of $17.02 million and repurchasing $1.85 million in shares, demonstrating prudent and efficient capital utilization.
- Capital Adequacy: The Board confirmed that after the special dividend payment, the company will have sufficient surplus capital to support anticipated growth opportunities, ensuring the continued development of its core operations and customer service.
- Historical Performance Review: Since July 1, 2013, the company has earned approximately $452 million, paid regular dividends of $192 million and special dividends of $46 million, and repurchased 9.38 million shares, showcasing its stable financial performance and ability to create shareholder value.
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