First Community Bankshares (NASDAQ:FCBC) Stock Price Up 2.9%

First Community Bankshares, Inc. (NASDAQ:FCBC)’s stock price rose 2.9% during trading on Wednesday . The stock traded as high as $44.83 and last traded at $44.83. Approximately 4,490 shares traded hands during trading, a decline of 87% from the average daily volume of 33,617 shares. The stock had previously closed at $43.58.

Wall Street Analysts Forecast Growth

Separately, Hovde Group initiated 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 Price Performance

The company has a market capitalization of $811.25 million, a price-to-earnings ratio of 16.08 and a beta of 0.52. The business’s 50 day simple moving average is $39.93 and its 200 day simple moving average is $35.78.

First Community Bankshares (NASDAQ:FCBC) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.79 EPS for the quarter. The company had revenue of $41.25 million for the quarter. First Community Bankshares had a net margin of 28.30% and a return on equity of 11.33%.

First Community Bankshares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were issued a $0.31 dividend. This is an increase from First Community Bankshares’s previous quarterly dividend of $0.29. The ex-dividend date was Friday, August 9th. This represents a $1.24 annualized dividend and a dividend yield of 2.81%. First Community Bankshares’s payout ratio is presently 45.76%.

Insider Activity

In other news, SVP Sarah W. Harmon sold 2,593 shares of First Community Bankshares stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $44.46, for a total value of $115,284.78. Following the sale, the senior vice president now owns 4,855 shares of the company’s stock, valued at $215,853.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.67% of the company’s stock.

Institutional Trading of First Community Bankshares

A number of institutional investors have recently added to or reduced their stakes in FCBC. Callan Family Office LLC purchased a new stake in First Community Bankshares during the second quarter worth about $14,523,000. Vanguard Group Inc. lifted its holdings in shares of First Community Bankshares by 12.6% in the first quarter. Vanguard Group Inc. now owns 916,310 shares of the bank’s stock valued at $31,732,000 after purchasing an additional 102,183 shares in the last quarter. Burke & Herbert Bank & Trust Co. purchased a new stake in shares of First Community Bankshares in the second quarter valued at about $1,412,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of First Community Bankshares in the first quarter valued at about $772,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of First Community Bankshares in the fourth quarter valued at about $730,000. 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.