First Community Bancshares, Inc. (NASDAQ:FCBC) Short Interest Up 19.6% in March

Key Points

• Short interest up 19.6% — As of March 31 short interest rose to 389,741 shares (about 2.1% of shares outstanding), producing a days-to-cover of 3.9 and signaling increased bearish positioning.
• First Community beat quarterly expectations with $0.77 EPS vs. $0.67 est. and $43.79M revenue; the stock traded up 2.6% to $43.31 and the company pays a $0.31 quarterly dividend (annualized yield ~2.9%).
• Institutional ownership is ~34.95% with recent stake increases from firms like Rockefeller, Millennium and AQR, and Weiss Ratings recently upgraded the stock from "hold" to a "buy" rating.

First Community Bancshares, Inc. (NASDAQ:FCBC - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 389,741 shares, an increase of 19.6% from the March 15th total of 325,793 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily volume of 100,017 shares, the days-to-cover ratio is currently 3.9 days.

First Community Bancshares Stock Up 2.6%

FCBC traded up $1.08 during mid-day trading on Friday, reaching $43.31. 75,920 shares of the company traded hands, compared to its average volume of 82,046. The stock has a market capitalization of $826.35 million, a P/E ratio of 16.28 and a beta of 0.48. First Community Bancshares has a 52-week low of $31.21 and a 52-week high of $44.15. The company's fifty day moving average price is $40.83 and its 200-day moving average price is $36.28.

First Community Bancshares (NASDAQ:FCBC - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The bank reported $0.77 EPS for the quarter, topping the consensus estimate of $0.67 by $0.10. First Community Bancshares had a return on equity of 10.17% and a net margin of 26.32%.The company had revenue of $43.79 million during the quarter, compared to analyst estimates of $43.20 million.

First Community Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, February 13th. First Community Bancshares's dividend payout ratio is 46.62%.

Institutional Trading of First Community Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FCBC. Hsbc Holdings PLC grew its position in shares of First Community Bancshares by 1.2% during the 4th quarter. Hsbc Holdings PLC now owns 35,959 shares of the bank's stock valued at $1,205,000 after acquiring an additional 418 shares during the period. Rockefeller Capital Management L.P. lifted its position in First Community Bancshares by 2,509.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 15,654 shares of the bank's stock valued at $528,000 after purchasing an additional 15,054 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in First Community Bancshares during the fourth quarter valued at $229,000. Millennium Management LLC grew its holdings in First Community Bancshares by 73.8% during the fourth quarter. Millennium Management LLC now owns 36,250 shares of the bank's stock valued at $1,223,000 after purchasing an additional 15,391 shares during the period. Finally, AQR Capital Management LLC grew its holdings in First Community Bancshares by 51.8% during the fourth quarter. AQR Capital Management LLC now owns 76,204 shares of the bank's stock valued at $2,570,000 after purchasing an additional 25,990 shares during the period. 34.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised First Community Bancshares from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, First Community Bancshares presently has a consensus rating of "Buy".

About First Community Bancshares

First Community Bancshares, Inc NASDAQ: FCBC is a bank holding company headquartered in Mebane, North Carolina, that delivers banking and financial services through its wholly owned subsidiary, First Community Bank. The company’s core focus is on relationship-driven community banking, offering clients a blend of personalized service and competitive digital banking capabilities. It serves a diverse clientele that includes individuals, families, small and mid-sized businesses, nonprofit organizations and professional practices.

The bank provides a broad spectrum of deposit products, such as checking, savings, money market and certificate of deposit accounts, alongside treasury management and payment processing solutions.

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