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

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

Wall Street Analyst Weigh In

Separately, Hovde Group started coverage on First Community Bankshares in a research note on Friday, June 28th. They issued a “market perform” rating and a $38.00 price objective for the company.

First Community Bankshares Price Performance

NASDAQ FCBC traded down $1.66 during 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 one year low of $28.13 and a one year high of $45.93. The stock has a market capitalization of $761.51 million, a PE ratio of 15.31 and a beta of 0.52. The firm has a fifty day moving average of $42.62 and a 200 day moving average of $37.50.

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

First Community Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were paid a $0.31 dividend. The ex-dividend date of this dividend was Friday, August 9th. This is a positive change from First Community Bankshares’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.99%. First Community Bankshares’s payout ratio is currently 45.76%.

Insider Buying and Selling at First Community Bankshares

In other First Community Bankshares news, SVP Sarah W. Harmon sold 2,593 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $44.46, for a total transaction of $115,284.78. Following the transaction, the senior vice president now directly owns 4,855 shares in the company, valued at approximately $215,853.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 3.67% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of FCBC. Northwestern Mutual Wealth Management Co. boosted its holdings in First Community Bankshares by 14.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,947 shares of the bank’s stock worth $109,000 after buying an additional 361 shares during the period. AQR Capital Management LLC purchased a new stake in shares of First Community Bankshares in the second quarter valued at approximately $297,000. American Century Companies Inc. increased its stake in shares of First Community Bankshares by 4.4% during the second quarter. American Century Companies Inc. now owns 50,513 shares of the bank’s stock valued at $1,861,000 after buying an additional 2,110 shares during the period. Panagora Asset Management Inc. grew its holdings in First Community Bankshares by 22.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 60,583 shares of the bank’s stock worth $2,232,000 after acquiring an additional 10,944 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in First Community Bankshares during the 2nd quarter valued at $14,523,000. 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.