DAVENPORT & Co LLC Sells 9,601 Shares of First Community Bancshares, Inc. (NASDAQ:FCBC)

DAVENPORT & Co LLC cut its holdings in shares of First Community Bancshares, Inc. (NASDAQ:FCBC - Free Report) by 27.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,226 shares of the bank's stock after selling 9,601 shares during the quarter. DAVENPORT & Co LLC owned approximately 0.14% of First Community Bancshares worth $953,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC increased its holdings in First Community Bancshares by 3,912.9% in the 1st quarter. GAMMA Investing LLC now owns 61,397 shares of the bank's stock worth $2,314,000 after acquiring an additional 59,867 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in First Community Bancshares by 134.5% in the 4th quarter. JPMorgan Chase & Co. now owns 73,000 shares of the bank's stock worth $3,040,000 after acquiring an additional 41,867 shares during the last quarter. Mariner LLC purchased a new stake in First Community Bancshares in the 4th quarter worth about $630,000. one8zero8 LLC purchased a new stake in First Community Bancshares in the 4th quarter worth about $511,000. Finally, Systematic Financial Management LP increased its holdings in First Community Bancshares by 2.0% in the 4th quarter. Systematic Financial Management LP now owns 542,599 shares of the bank's stock worth $22,594,000 after acquiring an additional 10,855 shares during the last quarter. 34.95% of the stock is owned by hedge funds and other institutional investors.

First Community Bancshares Price Performance

FCBC stock traded down $1.05 during mid-day trading on Monday, reaching $40.74. 58,398 shares of the company traded hands, compared to its average volume of 40,994. First Community Bancshares, Inc. has a 52-week low of $33.88 and a 52-week high of $49.02. The company has a market capitalization of $744.73 million, a P/E ratio of 14.71 and a beta of 0.60. The company has a fifty day moving average price of $38.56 and a 200-day moving average price of $39.64.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $40.53 million for the quarter, compared to analysts' expectations of $40.50 million. First Community Bancshares had a return on equity of 10.09% and a net margin of 27.24%.

First Community Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.24 dividend on an annualized basis and a yield of 3.04%. First Community Bancshares's payout ratio is 44.77%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered First Community Bancshares from a "hold" rating to a "sell" rating in a report on Saturday, May 24th.

First Community Bancshares 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.