Systematic Financial Management LP Sells 42,492 Shares of First Community Bankshares, Inc. (NASDAQ:FCBC)

Systematic Financial Management LP lowered its stake in First Community Bankshares, Inc. (NASDAQ:FCBC) by 7.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 539,837 shares of the bank’s stock after selling 42,492 shares during the quarter. Systematic Financial Management LP owned about 2.94% of First Community Bankshares worth $19,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its position in shares of First Community Bankshares by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 965,956 shares of the bank’s stock worth $35,838,000 after purchasing an additional 5,446 shares during the period. Vanguard Group Inc. increased its stake 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 buying an additional 102,183 shares in the last quarter. Callan Family Office LLC bought a new stake in First Community Bankshares during the second quarter valued at about $14,523,000. Bank of New York Mellon Corp lifted its position in shares of First Community Bankshares by 3.8% in the second 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 in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of First Community Bankshares by 22.0% in the second quarter. Panagora Asset Management Inc. now owns 60,583 shares of the bank’s stock worth $2,232,000 after acquiring an additional 10,944 shares during the period. 34.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Hovde Group started coverage on First Community Bankshares in a research note on Friday, June 28th. They set a “market perform” rating and a $38.00 target price on the stock.

Insider Activity at First Community Bankshares

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

First Community Bankshares Stock Performance

Shares of NASDAQ FCBC opened at $41.98 on Friday. The company has a market cap of $770.50 million, a P/E ratio of 15.49 and a beta of 0.52. First Community Bankshares, Inc. has a 52-week low of $28.13 and a 52-week high of $45.93. The firm’s fifty day moving average is $42.61 and its two-hundred day moving average is $37.39.

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. The business had revenue of $41.25 million for the quarter. First Community Bankshares had a return on equity of 11.30% and a net margin of 28.30%.

First Community Bankshares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Friday, August 9th were given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.95%. This is a boost from First Community Bankshares’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, August 9th. First Community Bankshares’s dividend payout ratio is currently 45.76%.

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.