First Community Bankshares (NASDAQ:FCBC) Shares Down 4.1%

Shares of First Community Bankshares, Inc. (NASDAQ:FCBC) fell 4.1% during mid-day trading on Tuesday . The company traded as low as $34.88 and last traded at $34.88. 2,675 shares changed hands during trading, a decline of 91% from the average session volume of 30,936 shares. The stock had previously closed at $36.37.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FCBC. Hovde Group began coverage on First Community Bankshares in a research note on Friday. They set a “market perform” rating and a $38.00 price target for the company. StockNews.com upgraded First Community Bankshares from a “sell” rating to a “hold” rating in a research note on Saturday, April 27th.

First Community Bankshares Stock Performance

The business has a 50 day moving average price of $34.52 and a two-hundred day moving average price of $34.32. The stock has a market cap of $666.66 million, a PE ratio of 13.42 and a beta of 0.52.

First Community Bankshares (NASDAQ:FCBC) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. First Community Bankshares had a return on equity of 11.04% and a net margin of 27.10%. The firm had revenue of $40.89 million for the quarter, compared to the consensus estimate of $39.72 million. As a group, research analysts anticipate that First Community Bankshares, Inc. will post 2.59 earnings per share for the current year.

First Community Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 10th were paid a $0.29 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.19%. First Community Bankshares’s payout ratio is presently 42.80%.

Institutional Investors Weigh In On First Community Bankshares

A number of hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in shares of First Community Bankshares by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 965,956 shares of the bank’s stock worth $35,838,000 after purchasing an additional 5,446 shares during the period. Vanguard Group Inc. raised its holdings in First Community Bankshares by 12.6% during the 1st quarter. Vanguard Group Inc. now owns 916,310 shares of the bank’s stock valued at $31,732,000 after acquiring an additional 102,183 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in First Community Bankshares by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 132,477 shares of the bank’s stock valued at $3,901,000 after acquiring an additional 3,554 shares during the period. Panagora Asset Management Inc. raised its holdings in First Community Bankshares by 34.3% during the 4th quarter. Panagora Asset Management Inc. now owns 42,379 shares of the bank’s stock valued at $1,572,000 after acquiring an additional 10,824 shares during the period. Finally, Summit Financial Group Inc. raised its holdings in First Community Bankshares by 2.6% during the 4th quarter. Summit Financial Group Inc. now owns 38,442 shares of the bank’s stock valued at $1,426,000 after acquiring an additional 990 shares during the period. 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.