Bank of America Corp DE Buys 5,477 Shares of First Community Bankshares, Inc. (NASDAQ:FCBC)

Bank of America Corp DE raised its position in shares of First Community Bankshares, Inc. (NASDAQ:FCBC) by 36.7% in the fourth quarter, HoldingsChannel reports. The fund owned 20,404 shares of the bank’s stock after acquiring an additional 5,477 shares during the period. Bank of America Corp DE’s holdings in First Community Bankshares were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in First Community Bankshares by 84.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 620 shares of the bank’s stock worth $26,000 after purchasing an additional 284 shares during the last quarter. Atala Financial Inc acquired a new position in First Community Bankshares in the 4th quarter valued at $59,000. KLP Kapitalforvaltning AS bought a new position in First Community Bankshares during the 4th quarter worth $137,000. Signaturefd LLC lifted its holdings in shares of First Community Bankshares 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 in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of First Community Bankshares in the fourth quarter valued at about $351,000. Institutional investors and hedge funds own 34.95% of the company’s stock.

First Community Bankshares Stock Up 1.9%

Shares of NASDAQ:FCBC opened at $38.30 on Monday. First Community Bankshares, Inc. has a 12-month low of $32.63 and a 12-month high of $49.02. The company’s 50 day moving average price is $38.14 and its two-hundred day moving average price is $40.58. The firm has a market cap of $700.09 million, a PE ratio of 13.49 and a beta of 0.60.

First Community Bankshares (NASDAQ:FCBC) last issued its quarterly 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 Bankshares had a return on equity of 10.35% and a net margin of 27.81%. The company had revenue of $40.53 million for the quarter, compared to analyst estimates of $40.50 million.

First Community Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Friday, May 9th. First Community Bankshares’s dividend payout ratio (DPR) is currently 44.77%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of First Community Bankshares from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th.

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.