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

First Community Bankshares, Inc. (NASDAQ:FCBC) was the target 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. Based on an average trading volume of 38,600 shares, the short-interest ratio is currently 4.4 days. Currently, 1.1% of the shares of the stock are sold short.

First Community Bankshares Trading Up 0.6 %

Shares of FCBC traded up $0.27 during trading hours on Monday, hitting $43.35. 23,073 shares of the stock traded hands, compared to its average volume of 33,524. The business has a fifty day moving average of $42.14 and a 200-day moving average of $38.04. The firm has a market capitalization of $795.65 million, a PE ratio of 15.76 and a beta of 0.52. First Community Bankshares has a 1-year low of $28.55 and a 1-year high of $45.93.

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

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 was Friday, August 9th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from First Community Bankshares’s previous quarterly dividend of $0.29. First Community Bankshares’s dividend payout ratio is 45.76%.

Insider Buying and Selling

In other First Community Bankshares news, SVP Sarah W. Harmon sold 2,593 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $44.46, for a total value of $115,284.78. Following the transaction, the senior vice president now owns 4,855 shares of the company’s stock, valued at approximately $215,853.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 made changes to their positions in FCBC. Northwestern Mutual Wealth Management Co. lifted its stake in First Community Bankshares by 14.0% in the second 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. Mather Group LLC. acquired a new stake in shares of First Community Bankshares in the 1st quarter valued at approximately $128,000. SG Americas Securities LLC raised its position in shares of First Community Bankshares by 80.5% in the 3rd quarter. SG Americas Securities LLC now owns 6,076 shares of the bank’s stock valued at $262,000 after acquiring an additional 2,710 shares during the period. AQR Capital Management LLC bought a new position in First Community Bankshares during the 2nd quarter worth approximately $297,000. Finally, Creative Planning acquired a new position in First Community Bankshares during the third quarter valued at approximately $367,000. 34.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Hovde Group began coverage on shares of First Community Bankshares in a research note on Friday, June 28th. They set a “market perform” rating and a $38.00 price target on the 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.