First Community Bankshares, Inc. (NASDAQ:FCBC) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its holdings in First Community Bankshares, Inc. (NASDAQ:FCBC) by 7.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,162 shares of the bank’s stock after selling 1,506 shares during the quarter. Axxcess Wealth Management LLC owned 0.10% of First Community Bankshares worth $629,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake 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 worth $31,732,000 after purchasing an additional 102,183 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in First Community Bankshares in the first quarter worth about $772,000. Assenagon Asset Management S.A. bought a new position in First Community Bankshares in the 4th quarter valued at about $462,000. Panagora Asset Management Inc. increased its stake in First Community Bankshares by 34.3% during the 4th quarter. Panagora Asset Management Inc. now owns 42,379 shares of the bank’s stock valued at $1,572,000 after buying an additional 10,824 shares during the period. Finally, Gratus Capital LLC bought a new stake in shares of First Community Bankshares during the 4th quarter worth about $237,000. 34.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FCBC. Hovde Group initiated coverage on shares of First Community Bankshares in a research note on Friday, June 28th. They issued a “market perform” rating and a $38.00 price target for the company. StockNews.com upgraded First Community Bankshares from a “sell” rating to a “hold” rating in a research report on Saturday, April 27th.

First Community Bankshares Stock Down 0.6 %

First Community Bankshares stock traded down $0.29 during midday trading on Friday, hitting $44.81. The company’s stock had a trading volume of 64,365 shares, compared to its average volume of 33,556. First Community Bankshares, Inc. has a 12 month low of $28.13 and a 12 month high of $45.78. The company has a market capitalization of $822.26 million, a PE ratio of 16.42 and a beta of 0.53. The stock’s 50-day moving average price is $36.34 and its 200-day moving average price is $34.65.

First Community Bankshares (NASDAQ:FCBC) last announced its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.11. First Community Bankshares had a net margin of 28.30% and a return on equity of 11.33%. The company had revenue of $40.89 million for the quarter, compared to analysts’ expectations of $39.72 million.

First Community Bankshares Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a $0.31 dividend. This is a positive change from First Community Bankshares’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.24 annualized dividend and a yield of 2.77%. First Community Bankshares’s payout ratio is 42.80%.

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.