First Community Bankshares, Inc. (NASDAQ:FCBC) Short Interest Up 18.7% in September

First Community Bankshares, Inc. (NASDAQ:FCBC) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totalling 169,200 shares, a growth of 18.7% from the September 15th total of 142,600 shares. Based on an average daily trading volume, of 38,600 shares, the short-interest ratio is presently 4.4 days. Currently, 1.1% of the company’s shares are sold short.

Insider Buying and Selling at First Community Bankshares

In other news, SVP Sarah W. Harmon sold 2,593 shares of the firm’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 directly owns 4,855 shares in the company, valued at $215,853.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FCBC. State Board of Administration of Florida Retirement System acquired a new position in shares of First Community Bankshares during the first quarter worth $772,000. Burke & Herbert Bank & Trust Co. purchased a new position in shares of First Community Bankshares during the 2nd quarter valued at $1,412,000. Vanguard Group Inc. lifted its stake in First Community Bankshares by 12.6% in the first quarter. Vanguard Group Inc. now owns 916,310 shares of the bank’s stock worth $31,732,000 after purchasing an additional 102,183 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Community Bankshares by 14.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,947 shares of the bank’s stock valued at $109,000 after acquiring an additional 361 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in First Community Bankshares by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 124,760 shares of the bank’s stock worth $4,596,000 after purchasing an additional 4,623 shares during the period. 34.95% of the stock is currently owned by institutional investors and hedge funds.

First Community Bankshares Stock Performance

First Community Bankshares stock traded up $1.24 during midday trading on Wednesday, reaching $45.26. 15,214 shares of the company’s stock were exchanged, compared to its average volume of 33,439. First Community Bankshares has a 52 week low of $28.55 and a 52 week high of $45.93. The firm has a market cap of $830.70 million, a price-to-earnings ratio of 16.71 and a beta of 0.52. The stock’s 50-day simple moving average is $42.25 and its 200 day simple moving average is $38.16.

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

First Community Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Friday, August 9th were given a dividend of $0.31 per share. This is an increase from First Community Bankshares’s previous quarterly dividend of $0.29. This represents a $1.24 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, August 9th. First Community Bankshares’s payout ratio is currently 45.76%.

Analyst Ratings Changes

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

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.