Dimensional Fund Advisors LP Reduces Stake in First Community Bankshares, Inc. (NASDAQ:FCBC)

Dimensional Fund Advisors LP reduced its stake in shares of First Community Bankshares, Inc. (NASDAQ:FCBC) by 0.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 959,216 shares of the bank’s stock after selling 5,844 shares during the period. Dimensional Fund Advisors LP owned about 5.23% of First Community Bankshares worth $35,336,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FCBC. State Board of Administration of Florida Retirement System bought a new position in First Community Bankshares during the first quarter valued at $772,000. Burke & Herbert Bank & Trust Co. purchased a new stake in First Community Bankshares in the 2nd quarter worth about $1,412,000. Vanguard Group Inc. increased its holdings in First Community Bankshares by 12.6% in the 1st quarter. Vanguard Group Inc. now owns 916,310 shares of the bank’s stock worth $31,732,000 after acquiring an additional 102,183 shares during the last quarter. Bank of New York Mellon Corp raised its stake in First Community Bankshares by 3.8% in 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 period. Finally, Mather Group LLC. purchased a new stake in First Community Bankshares during the first quarter valued at about $128,000. Hedge funds and other institutional investors own 34.95% of the company’s stock.

Insider Activity at First Community Bankshares

In other First Community Bankshares news, SVP Sarah W. Harmon sold 2,593 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $44.46, for a total value of $115,284.78. Following the sale, the senior vice president now directly owns 4,855 shares in the company, valued at approximately $215,853.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.67% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, Hovde Group began 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 target price for the company.

First Community Bankshares Price Performance

NASDAQ:FCBC opened at $41.49 on Wednesday. First Community Bankshares, Inc. has a 1 year low of $28.13 and a 1 year high of $45.93. The stock’s fifty day moving average price is $42.62 and its two-hundred day moving average price is $37.50. The company has a market cap of $761.51 million, a P/E ratio of 15.31 and a beta of 0.52.

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

First Community Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a $0.31 dividend. This is a positive change from First Community Bankshares’s previous quarterly dividend of $0.29. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Friday, August 9th. First Community Bankshares’s dividend payout ratio (DPR) is 45.76%.

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.