Short Interest in First Community Bancshares, Inc. (FCBC) Increases By 3.5%
First Community Bancshares, Inc. (NASDAQ:FCBC) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 100,513 shares, an increase of 3.5% from the May 15th total of 97,122 shares. Based on an average daily volume of 29,441 shares, the short-interest ratio is presently 3.4 days.
First Community Bancshares (NASDAQ FCBC) traded down 0.36% during midday trading on Tuesday, reaching $27.77. 8,908 shares of the company’s stock traded hands. First Community Bancshares has a 52-week low of $20.47 and a 52-week high of $31.94. The stock has a market cap of $472.34 million, a P/E ratio of 18.88 and a beta of 0.80. The company’s 50-day moving average price is $26.09 and its 200-day moving average price is $27.27.
First Community Bancshares (NASDAQ:FCBC) last issued its quarterly earnings data on Tuesday, April 25th. The bank reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.04. First Community Bancshares had a net margin of 21.17% and a return on equity of 7.46%. The business had revenue of $26.83 million during the quarter. On average, equities analysts predict that First Community Bancshares will post $1.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Friday, May 5th were issued a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $0.64 annualized dividend and a yield of 2.30%. First Community Bancshares’s dividend payout ratio (DPR) is presently 43.54%.
Separately, Keefe, Bruyette & Woods set a $27.00 price target on shares of First Community Bancshares and gave the company a “hold” rating in a research note on Tuesday, April 4th.
In related news, President Gary R. Mills purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was purchased at an average cost of $25.98 per share, with a total value of $25,980.00. Following the completion of the purchase, the president now owns 16,533 shares in the company, valued at approximately $429,527.34. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders acquired 1,200 shares of company stock valued at $31,125. Insiders own 3.33% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of FCBC. Schwab Charles Investment Management Inc. raised its position in shares of First Community Bancshares by 3.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 82,165 shares of the bank’s stock valued at $2,052,000 after buying an additional 3,078 shares during the period. Renaissance Technologies LLC raised its position in shares of First Community Bancshares by 3.9% in the first quarter. Renaissance Technologies LLC now owns 204,392 shares of the bank’s stock valued at $5,104,000 after buying an additional 7,692 shares during the period. Dimensional Fund Advisors LP raised its position in shares of First Community Bancshares by 3.8% in the first quarter. Dimensional Fund Advisors LP now owns 968,016 shares of the bank’s stock valued at $24,172,000 after buying an additional 35,087 shares during the period. Geode Capital Management LLC raised its position in shares of First Community Bancshares by 4.6% in the first quarter. Geode Capital Management LLC now owns 115,605 shares of the bank’s stock valued at $2,886,000 after buying an additional 5,056 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of First Community Bancshares by 3.8% in the first quarter. Vanguard Group Inc. now owns 565,497 shares of the bank’s stock valued at $14,120,000 after buying an additional 20,561 shares during the period. Institutional investors and hedge funds own 45.63% of the company’s stock.
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First Community Bancshares Company Profile
First Community Bancshares, Inc is a financial holding company. The Company provides commercial banking products and services through its subsidiary First Community Bank (the Bank). The Bank operates as First Community Bank in Virginia, West Virginia, and North Carolina and People’s Community Bank, a Division of First Community Bank, in Tennessee.
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