First Community Bankshares (NASDAQ:FCBC) Sees Large Volume Increase

First Community Bankshares, Inc. (NASDAQ:FCBC) shares saw strong trading volume on Friday . 34,534 shares changed hands during mid-day trading, an increase of 4% from the previous session’s volume of 33,089 shares.The stock last traded at $45.19 and had previously closed at $45.71.

Analysts Set New Price Targets

Separately, Hovde Group started coverage on shares of First Community Bankshares in a report on Friday, June 28th. They set a “market perform” rating and a $38.00 price target for the company.

First Community Bankshares Trading Down 2.3 %

The stock’s fifty day moving average price is $42.40 and its 200-day moving average price is $36.96. The firm has a market cap of $820.06 million, a price-to-earnings ratio of 16.87 and a beta of 0.52.

First Community Bankshares (NASDAQ:FCBC) last announced its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter. The business had revenue of $41.25 million during the quarter. First Community Bankshares had a net margin of 28.30% and a return on equity of 11.30%.

First Community Bankshares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.78%. This is a boost from First Community Bankshares’s previous quarterly dividend of $0.29. First Community Bankshares’s dividend payout ratio (DPR) is presently 45.76%.

Insider Buying and Selling

In related news, SVP Sarah W. Harmon sold 2,593 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $44.46, for a total transaction of $115,284.78. Following the completion of the transaction, the senior vice president now owns 4,855 shares of the company’s stock, valued at approximately $215,853.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.67% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Community Bankshares

A number of hedge funds have recently made changes to their positions in the stock. Callan Family Office LLC purchased a new position in First Community Bankshares in the 2nd quarter valued at approximately $14,523,000. Vanguard Group Inc. boosted its position in First Community Bankshares by 12.6% in the 1st quarter. Vanguard Group Inc. now owns 916,310 shares of the bank’s stock valued at $31,732,000 after buying an additional 102,183 shares during the period. Burke & Herbert Bank & Trust Co. purchased a new position in First Community Bankshares in the 2nd quarter valued at approximately $1,412,000. State Board of Administration of Florida Retirement System purchased a new position in First Community Bankshares in the 1st quarter valued at approximately $772,000. Finally, Panagora Asset Management Inc. boosted its position in First Community Bankshares by 22.0% in the 2nd quarter. Panagora Asset Management Inc. now owns 60,583 shares of the bank’s stock valued at $2,232,000 after buying an additional 10,944 shares during the period. Hedge funds and other institutional investors own 34.95% of the company’s stock.

About First Community Bankshares

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.