Northwestern Mutual Wealth Management Co. Acquires 361 Shares of First Community Bankshares, Inc. (NASDAQ:FCBC)

Northwestern Mutual Wealth Management Co. increased its stake in shares of First Community Bankshares, Inc. (NASDAQ:FCBC) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,947 shares of the bank’s stock after acquiring an additional 361 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in First Community Bankshares were worth $109,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. AQR Capital Management LLC bought a new position in shares of First Community Bankshares during the 2nd quarter worth about $297,000. American Century Companies Inc. grew its position in First Community Bankshares by 4.4% during the second quarter. American Century Companies Inc. now owns 50,513 shares of the bank’s stock worth $1,861,000 after buying an additional 2,110 shares in the last quarter. Panagora Asset Management Inc. increased its stake in First Community Bankshares by 22.0% during the second quarter. Panagora Asset Management Inc. now owns 60,583 shares of the bank’s stock valued at $2,232,000 after acquiring an additional 10,944 shares during the period. Callan Family Office LLC acquired a new position in First Community Bankshares in the 2nd quarter valued at approximately $14,523,000. Finally, Bank of New York Mellon Corp lifted its position in shares of First Community Bankshares by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 124,760 shares of the bank’s stock worth $4,596,000 after acquiring an additional 4,623 shares during the period. 34.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Hovde Group began 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 for the company.

Insider Buying and Selling at First Community Bankshares

In other news, SVP Sarah W. Harmon sold 2,593 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $44.46, for a total value of $115,284.78. Following the sale, the senior vice president now owns 4,855 shares of the company’s stock, valued at approximately $215,853.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.67% of the company’s stock.

First Community Bankshares Stock Performance

NASDAQ:FCBC opened at $43.08 on Friday. The company has a 50-day moving average of $42.14 and a 200-day moving average of $37.97. First Community Bankshares, Inc. has a 52 week low of $28.55 and a 52 week high of $45.93. The company has a market capitalization of $787.07 million, a price-to-earnings ratio of 15.01 and a beta of 0.52.

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

First Community Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.88%. This is a boost from First Community Bankshares’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, August 9th. First Community Bankshares’s dividend payout ratio is 43.21%.

First Community Bankshares 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.