Short Interest in First Community Bankshares, Inc. (NASDAQ:FCBC) Declines By 9.5%

First Community Bankshares, Inc. (NASDAQ:FCBC) saw a large drop in short interest in the month of 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. Based on an average daily volume of 40,500 shares, the short-interest ratio is presently 3.5 days. Currently, 0.9% of the shares of the company are short sold.

Insiders Place Their Bets

In related news, SVP Sarah W. Harmon sold 2,593 shares of the business’s stock in a transaction on Friday, July 26th. The shares were 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 approximately $215,853.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.67% of the stock is owned by insiders.

Hedge Funds Weigh In On First Community Bankshares

A number of institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its position in shares of First Community Bankshares by 14.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,947 shares of the bank’s stock valued at $109,000 after buying an additional 361 shares during the last quarter. Mather Group LLC. acquired a new stake in First Community Bankshares in the 1st quarter valued at about $128,000. AQR Capital Management LLC bought a new position in shares of First Community Bankshares in the second quarter valued at $297,000. Price T Rowe Associates Inc. MD boosted its position in shares of First Community Bankshares by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,781 shares of the bank’s stock valued at $443,000 after purchasing an additional 539 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of First Community Bankshares by 60.9% in the fourth quarter. BNP Paribas Financial Markets now owns 12,252 shares of the bank’s stock worth $455,000 after acquiring an additional 4,636 shares in the last quarter. 34.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

First Community Bankshares Price Performance

Shares of FCBC traded down $1.66 during mid-day trading on Tuesday, reaching $41.49. The company’s stock had a trading volume of 33,612 shares, compared to its average volume of 33,702. First Community Bankshares has a 12-month low of $28.13 and a 12-month high of $45.93. The stock has a market cap of $761.51 million, a PE ratio of 15.31 and a beta of 0.52. The company’s 50 day moving average is $42.62 and its 200 day moving average is $37.50.

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

First Community Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were issued a dividend of $0.31 per share. This is a positive change from First Community Bankshares’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.24 annualized dividend and a dividend yield of 2.99%. First Community Bankshares’s payout ratio is presently 45.76%.

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.