First Community Bankshares (NASDAQ:FCBC) Sees Strong Trading Volume – Here’s Why

Shares of First Community Bankshares, Inc. (NASDAQ:FCBC) saw unusually-strong trading volume on Friday . Approximately 20,657 shares changed hands during trading, a decline of 40% from the previous session’s volume of 34,204 shares.The stock last traded at $41.15 and had previously closed at $41.64.

First Community Bankshares Stock Performance

The stock has a market capitalization of $777.55 million, a PE ratio of 15.24 and a beta of 0.56. The business’s 50-day moving average price is $44.81 and its 200 day moving average price is $41.72.

First Community Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 8th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.24 dividend on an annualized basis and a yield of 2.92%. First Community Bankshares’s dividend payout ratio is presently 44.44%.

Insider Activity at First Community Bankshares

In related news, CFO David D. Brown sold 2,520 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $48.00, for a total transaction of $120,960.00. Following the transaction, the chief financial officer now owns 12,676 shares in the company, valued at $608,448. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jason R. Belcher sold 6,384 shares of First Community Bankshares stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $46.49, for a total transaction of $296,792.16. Following the sale, the senior vice president now directly owns 15,317 shares in the company, valued at $712,087.33. The trade was a 29.42 % decrease in their position. The disclosure for this sale can be found here. 3.67% of the stock is owned by insiders.

Hedge Funds Weigh In On First Community Bankshares

Several large investors have recently made changes to their positions in FCBC. Assenagon Asset Management S.A. bought a new position in shares of First Community Bankshares during the third quarter valued at $1,030,000. Northwestern Mutual Wealth Management Co. lifted its holdings 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 period. Bank of New York Mellon Corp increased its position in First Community Bankshares by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 124,760 shares of the bank’s stock valued at $4,596,000 after acquiring an additional 4,623 shares during the last quarter. Creative Planning purchased a new position in First Community Bankshares in the third quarter worth about $367,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in First Community Bankshares in the third quarter worth about $802,000. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

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.