First Community Bankshares, Inc. (NASDAQ:FCBC) Short Interest Update

First Community Bankshares, Inc. (NASDAQ:FCBC) was the target of a large drop in short interest in September. As of September 15th, there was short interest totalling 142,600 shares, a drop of 9.5% from the August 31st total of 157,600 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 40,500 shares, the short-interest ratio is presently 3.5 days.

First Community Bankshares Stock Up 0.3 %

NASDAQ:FCBC traded up $0.13 during mid-day trading on Friday, hitting $41.98. 45,342 shares of the company traded hands, compared to its average volume of 33,572. The stock’s fifty day moving average price is $42.61 and its 200-day moving average price is $37.43. First Community Bankshares has a one year low of $28.13 and a one year high of $45.93. The firm has a market cap of $770.50 million, a price-to-earnings ratio of 15.49 and a beta of 0.52.

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

First Community Bankshares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.31 dividend. This is a positive change from First Community Bankshares’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, August 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.95%. First Community Bankshares’s dividend payout ratio is 45.76%.

Insiders Place Their Bets

In related news, SVP Sarah W. Harmon sold 2,593 shares of First Community Bankshares stock in a transaction on Friday, July 26th. The stock was sold at an average price of $44.46, for a total value of $115,284.78. Following the completion of the sale, the senior vice president now owns 4,855 shares of the company’s stock, valued at $215,853.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.67% of the company’s stock.

Hedge Funds Weigh In On First Community Bankshares

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

Analyst Ratings Changes

Separately, Hovde Group initiated coverage on First Community Bankshares in a report on Friday, June 28th. They issued a “market perform” rating and a $38.00 price objective 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.