First Community Bankshares (NASDAQ:FCBC) Trading Down 3.5% – Here’s Why

First Community Bankshares, Inc. (NASDAQ:FCBC) dropped 3.5% during trading on Wednesday . The stock traded as low as $44.24 and last traded at $44.24. Approximately 3,424 shares were traded during trading, a decline of 90% from the average daily volume of 33,837 shares. The stock had previously closed at $45.85.

First Community Bankshares Price Performance

The firm has a market capitalization of $841.20 million, a PE ratio of 16.43 and a beta of 0.56. The firm has a fifty day moving average price of $44.01 and a 200 day moving average price of $40.93.

First Community Bankshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 8th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend was Friday, November 8th. First Community Bankshares’s dividend payout ratio is currently 44.44%.

Insider Buying and Selling

In other news, SVP Jason R. Belcher sold 6,384 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $46.49, for a total transaction of $296,792.16. Following the completion of the sale, the senior vice president now directly owns 15,317 shares of the company’s stock, valued at $712,087.33. This trade represents a 29.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David D. Brown sold 2,520 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $48.00, for a total value of $120,960.00. Following the transaction, the chief financial officer now directly owns 12,676 shares in the company, valued at approximately $608,448. This represents a 16.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of 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 last quarter. State Street Corp increased its holdings in shares of First Community Bankshares by 2.5% during the 3rd quarter. State Street Corp now owns 424,564 shares of the bank’s stock valued at $18,320,000 after acquiring an additional 10,166 shares during the last quarter. Callan Family Office LLC acquired a new position in shares of First Community Bankshares during the 2nd quarter valued at about $14,523,000. Charles Schwab Investment Management Inc. increased its holdings in shares of First Community Bankshares by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,798 shares of the bank’s stock valued at $5,903,000 after acquiring an additional 2,605 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of First Community Bankshares by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 124,760 shares of the bank’s stock valued at $4,596,000 after acquiring an additional 4,623 shares during the last quarter. Institutional investors and hedge funds 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.