Summit Financial Group Inc. decreased its stake in shares of First Community Bankshares Inc (NASDAQ:FCBC) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,229 shares of the bank’s stock after selling 3,657 shares during the quarter. First Community Bankshares comprises approximately 2.9% of Summit Financial Group Inc.’s investment portfolio, making the stock its 5th largest holding. Summit Financial Group Inc. owned about 0.66% of First Community Bankshares worth $3,376,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC acquired a new stake in First Community Bankshares in the 2nd quarter valued at $231,000. Citadel Advisors LLC bought a new position in First Community Bankshares during the 2nd quarter valued at $438,000. MetLife Investment Advisors LLC lifted its stake in First Community Bankshares by 57.9% during the 3rd quarter. MetLife Investment Advisors LLC now owns 13,371 shares of the bank’s stock valued at $453,000 after acquiring an additional 4,901 shares in the last quarter. Acadian Asset Management LLC lifted its stake in First Community Bankshares by 11.3% during the 3rd quarter. Acadian Asset Management LLC now owns 29,076 shares of the bank’s stock valued at $985,000 after acquiring an additional 2,949 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in First Community Bankshares by 18.1% during the 2nd quarter. First Trust Advisors LP now owns 40,429 shares of the bank’s stock valued at $1,288,000 after acquiring an additional 6,195 shares in the last quarter. 42.89% of the stock is owned by institutional investors.
FCBC stock traded up $0.08 during mid-day trading on Friday, reaching $32.89. 102 shares of the company traded hands, compared to its average volume of 39,643. The firm has a market capitalization of $534.65 million, a PE ratio of 15.41 and a beta of 0.65. First Community Bankshares Inc has a 52-week low of $25.85 and a 52-week high of $36.09.
First Community Bankshares (NASDAQ:FCBC) last issued its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.08. The company had revenue of $28.84 million during the quarter. First Community Bankshares had a return on equity of 10.50% and a net margin of 22.55%.
Separately, BidaskClub cut First Community Bankshares from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, November 7th.
First Community Bankshares Company Profile
First Community Bancshares, Inc operates as the holding company for First Community Bank that provides various commercial banking products and services. It offers demand deposit accounts, savings and money market accounts, certificates of deposit, and individual retirement arrangements; commercial, consumer, and real estate mortgage loans, as well as lines of credit; various credit and debit cards, and automated teller machine card services; and corporate and personal trust services.
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