First Community Bankshares, Inc. (NASDAQ:FCBC) Sees Significant Increase in Short Interest

First Community Bankshares, Inc. (NASDAQ:FCBC) was the recipient of a large increase in short interest during the month of September. As of September 30th, there was short interest totalling 169,200 shares, an increase of 18.7% from the September 15th total of 142,600 shares. Currently, 1.1% of the shares of the stock are sold short. Based on an average trading volume of 38,600 shares, the short-interest ratio is currently 4.4 days.

First Community Bankshares Trading Up 2.7 %

Shares of First Community Bankshares stock traded up $1.18 during trading hours on Wednesday, reaching $45.20. 14,862 shares of the company’s stock were exchanged, compared to its average volume of 33,437. First Community Bankshares has a 52-week low of $28.55 and a 52-week high of $45.93. The company has a fifty day moving average of $42.25 and a 200-day moving average of $38.16. The firm has a market capitalization of $829.60 million, a price-to-earnings ratio of 16.71 and a beta of 0.52.

First Community Bankshares (NASDAQ:FCBC) last issued 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 firm had revenue of $41.25 million for the quarter.

First Community Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.31 dividend. This is a positive change from First Community Bankshares’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a dividend yield of 2.74%. The ex-dividend date was Friday, August 9th. First Community Bankshares’s dividend payout ratio (DPR) is 45.76%.

Analyst Ratings Changes

Separately, Hovde Group initiated 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.

Insider Activity at First Community Bankshares

In other news, SVP Sarah W. Harmon sold 2,593 shares of the firm’s 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 directly owns 4,855 shares of the company’s stock, valued at $215,853.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.67% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Community Bankshares

A number of institutional investors have recently added to or reduced their stakes in FCBC. Vanguard Group Inc. grew its holdings in shares of First Community Bankshares by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 916,310 shares of the bank’s stock worth $31,732,000 after purchasing an additional 102,183 shares during the period. Callan Family Office LLC acquired a new position in shares of First Community Bankshares during the 2nd quarter valued at $14,523,000. Bank of New York Mellon Corp boosted its position in First Community Bankshares by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 124,760 shares of the bank’s stock worth $4,596,000 after purchasing an additional 4,623 shares during the period. Panagora Asset Management Inc. increased its holdings 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 purchasing an additional 10,944 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in First Community Bankshares by 4.4% in the 2nd quarter. American Century Companies Inc. now owns 50,513 shares of the bank’s stock valued at $1,861,000 after purchasing an additional 2,110 shares in the last quarter. Hedge funds and other institutional investors own 34.95% of the company’s stock.

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.