First Community Bankshares, Inc. (NASDAQ:FCBC) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its holdings in First Community Bankshares, Inc. (NASDAQ:FCBC) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,756 shares of the bank’s stock after selling 400 shares during the period. PNC Financial Services Group Inc.’s holdings in First Community Bankshares were worth $214,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Panagora Asset Management Inc. raised its stake in First Community Bankshares by 34.3% during the 4th quarter. Panagora Asset Management Inc. now owns 42,379 shares of the bank’s stock worth $1,572,000 after acquiring an additional 10,824 shares in the last quarter. Gratus Capital LLC purchased a new stake in shares of First Community Bankshares in the 4th quarter valued at about $237,000. Dimensional Fund Advisors LP boosted its position in shares of First Community Bankshares by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 965,956 shares of the bank’s stock valued at $35,838,000 after purchasing an additional 5,446 shares during the period. BNP Paribas Financial Markets boosted its position in shares of First Community Bankshares by 60.9% in the 4th quarter. BNP Paribas Financial Markets now owns 12,252 shares of the bank’s stock valued at $455,000 after purchasing an additional 4,636 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in First Community Bankshares during the 4th quarter worth approximately $730,000. 34.95% of the stock is owned by hedge funds and other institutional investors.

First Community Bankshares Stock Up 0.8 %

FCBC opened at $36.65 on Wednesday. First Community Bankshares, Inc. has a 52 week low of $28.13 and a 52 week high of $39.23. The business has a 50 day moving average price of $34.59 and a two-hundred day moving average price of $34.31. The company has a market cap of $672.53 million, a PE ratio of 13.52 and a beta of 0.52.

First Community Bankshares (NASDAQ:FCBC) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.11. The firm had revenue of $40.89 million during the quarter, compared to the consensus estimate of $39.72 million. First Community Bankshares had a return on equity of 11.04% and a net margin of 27.10%. As a group, sell-side analysts expect that First Community Bankshares, Inc. will post 2.59 EPS for the current fiscal year.

First Community Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.17%. First Community Bankshares’s dividend payout ratio (DPR) is 42.80%.

Analyst Upgrades and Downgrades

FCBC has been the subject of several research analyst reports. StockNews.com raised First Community Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Hovde Group initiated coverage on shares of First Community Bankshares in a research report on Friday, June 28th. They issued a “market perform” rating and a $38.00 price target for the company.

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.