Burke & Herbert Bank & Trust Co. Invests $1.41 Million in First Community Bankshares, Inc. (NASDAQ:FCBC)

Burke & Herbert Bank & Trust Co. bought a new position in shares of First Community Bankshares, Inc. (NASDAQ:FCBC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 38,322 shares of the bank's stock, valued at approximately $1,412,000. Burke & Herbert Bank & Trust Co. owned about 0.21% of First Community Bankshares at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FCBC. Vanguard Group Inc. raised its holdings in shares of First Community Bankshares by 1.6% during the third quarter. Vanguard Group Inc. now owns 789,887 shares of the bank's stock valued at $23,262,000 after acquiring an additional 12,742 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of First Community Bankshares in the fourth quarter valued at $49,000. Axxcess Wealth Management LLC acquired a new stake in First Community Bankshares in the fourth quarter valued at $730,000. BNP Paribas Financial Markets raised its stake in First Community Bankshares by 60.9% in the fourth quarter. BNP Paribas Financial Markets now owns 12,252 shares of the bank's stock valued at $455,000 after buying an additional 4,636 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of First Community Bankshares by 0.6% during 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 in the last quarter. 34.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Community Bankshares news, SVP Sarah W. Harmon sold 2,593 shares of First Community Bankshares stock in a transaction on Friday, July 26th. The shares were sold at an average price of $44.46, for a total transaction of $115,284.78. Following the completion of the sale, the senior vice president now owns 4,855 shares of the company's stock, valued at approximately $215,853.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.67% of the company's stock.

First Community Bankshares Trading Up 1.5 %

NASDAQ:FCBC traded up $0.60 on Tuesday, reaching $39.82. The stock had a trading volume of 18,359 shares, compared to its average volume of 34,021. The stock has a market cap of $730.86 million, a P/E ratio of 14.69 and a beta of 0.52. The company has a 50-day moving average of $38.33 and a 200 day moving average of $35.23. First Community Bankshares, Inc. has a 12-month low of $28.13 and a 12-month high of $45.93.

First Community Bankshares (NASDAQ:FCBC - Get Free Report) last issued its earnings results on Tuesday, July 23rd. The bank reported $0.79 earnings per share (EPS) for the quarter. The firm had revenue of $41.25 million for the quarter. First Community Bankshares had a net margin of 28.30% and a return on equity of 11.33%.

First Community Bankshares Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.11%. This is a boost from First Community Bankshares's previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, August 9th. First Community Bankshares's payout ratio is presently 45.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on FCBC shares. StockNews.com raised First Community Bankshares from a "sell" rating to a "hold" rating in a research note on Saturday, April 27th. Hovde Group assumed coverage on First Community Bankshares in a report on Friday, June 28th. They issued a "market perform" rating and a $38.00 price target for the company.

First Community Bankshares 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.

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