Short Interest in First Community Bankshares, Inc. (NASDAQ:FCBC) Rises By 5.3%

First Community Bankshares, Inc. (NASDAQ:FCBC) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 145,600 shares, a growth of 5.3% from the May 31st total of 138,300 shares. Based on an average trading volume of 27,000 shares, the short-interest ratio is currently 5.4 days. Approximately 0.9% of the company’s stock are short sold.

First Community Bankshares Stock Performance

Shares of FCBC traded down $0.55 during mid-day trading on Wednesday, hitting $36.10. 18,590 shares of the company traded hands, compared to its average volume of 31,066. The stock has a 50-day moving average price of $34.59 and a two-hundred day moving average price of $34.31. First Community Bankshares has a 1 year low of $28.13 and a 1 year high of $39.23. The stock has a market cap of $662.44 million, a price-to-earnings ratio of 13.32 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 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. First Community Bankshares had a net margin of 27.10% and a return on equity of 11.04%. The business had revenue of $40.89 million during the quarter, compared to analysts’ expectations of $39.72 million. On average, analysts forecast that First Community Bankshares will post 2.59 EPS for the current year.

First Community Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Friday, May 10th were issued a dividend of $0.29 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.16 dividend on an annualized basis and a yield of 3.21%. First Community Bankshares’s dividend payout ratio is currently 42.80%.

Institutional Trading of First Community Bankshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in shares of First Community Bankshares in the fourth quarter worth approximately $49,000. Mather Group LLC. purchased a new stake in shares of First Community Bankshares in the first quarter worth $128,000. Gratus Capital LLC purchased a new stake in shares of First Community Bankshares in the fourth quarter worth $237,000. SG Americas Securities LLC increased its stake in shares of First Community Bankshares by 17.9% in the fourth quarter. SG Americas Securities LLC now owns 9,700 shares of the bank’s stock worth $360,000 after purchasing an additional 1,472 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of First Community Bankshares by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,781 shares of the bank’s stock worth $443,000 after purchasing an additional 539 shares in the last quarter. 34.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FCBC has been the subject of several recent analyst reports. StockNews.com raised shares of First Community Bankshares from a “sell” rating to a “hold” rating in a report on Saturday, April 27th. Hovde Group initiated coverage on shares of First Community Bankshares in a report on Friday, June 28th. They issued a “market perform” rating and a $38.00 target price for the company.

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.