DAVENPORT & Co LLC Decreases Holdings in First Community Bancshares, Inc. (NASDAQ:FCBC)

DAVENPORT & Co LLC cut its stake in First Community Bancshares, Inc. (NASDAQ:FCBC - Free Report) by 27.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,226 shares of the bank's stock after selling 9,601 shares during the period. DAVENPORT & Co LLC owned approximately 0.14% of First Community Bancshares worth $953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of First Community Bancshares by 84.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 620 shares of the bank's stock valued at $26,000 after purchasing an additional 284 shares in the last quarter. Atala Financial Inc bought a new stake in shares of First Community Bancshares during the fourth quarter worth approximately $59,000. KLP Kapitalforvaltning AS bought a new stake in shares of First Community Bancshares during the fourth quarter worth approximately $137,000. Signaturefd LLC raised its stake in shares of First Community Bancshares by 62.3% during the fourth quarter. Signaturefd LLC now owns 3,509 shares of the bank's stock worth $146,000 after buying an additional 1,347 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in First Community Bancshares in the fourth quarter valued at approximately $257,000. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

First Community Bancshares Stock Performance

NASDAQ:FCBC traded up $0.19 during mid-day trading on Thursday, reaching $41.07. 41,108 shares of the company's stock were exchanged, compared to its average volume of 44,008. First Community Bancshares, Inc. has a one year low of $33.88 and a one year high of $49.02. The firm has a market capitalization of $750.76 million, a PE ratio of 14.83 and a beta of 0.60. The business's fifty day simple moving average is $38.75 and its two-hundred day simple moving average is $39.64.

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

First Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.24 annualized dividend and a yield of 3.02%. First Community Bancshares's payout ratio is 44.77%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of First Community Bancshares from a "hold" rating to a "sell" rating in a research 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.