Connor Clark & Lunn Investment Management Ltd. Sells 2,841 Shares of First Community Bancshares, Inc. $FCBC

Connor Clark & Lunn Investment Management Ltd. reduced its holdings in First Community Bancshares, Inc. (NASDAQ:FCBC) by 13.0% during the second quarter, Holdings Channel.com reports. The institutional investor owned 18,958 shares of the bank’s stock after selling 2,841 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in First Community Bancshares were worth $743,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. AlphaQuest LLC bought a new stake in First Community Bancshares in the second quarter valued at $49,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of First Community Bancshares by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,124 shares of the bank’s stock worth $382,000 after purchasing an additional 474 shares during the period. Stephens Inc. AR boosted its stake in shares of First Community Bancshares by 19.5% during the 2nd quarter. Stephens Inc. AR now owns 16,947 shares of the bank’s stock valued at $664,000 after purchasing an additional 2,761 shares in the last quarter. AQR Capital Management LLC increased its position in shares of First Community Bancshares by 87.3% during the first quarter. AQR Capital Management LLC now owns 18,145 shares of the bank’s stock valued at $684,000 after buying an additional 8,457 shares during the period. Finally, Jane Street Group LLC bought a new position in First Community Bancshares in the first quarter worth about $976,000. Hedge funds and other institutional investors own 34.95% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Community Bancshares in a research report on Friday, October 31st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

First Community Bancshares Stock Down 0.6%

Shares of FCBC opened at $31.42 on Wednesday. The stock has a market cap of $575.46 million, a P/E ratio of 11.68 and a beta of 0.65. The business’s 50 day moving average price is $34.06 and its 200-day moving average price is $36.84. First Community Bancshares, Inc. has a 52 week low of $31.34 and a 52 week high of $48.34.

First Community Bancshares (NASDAQ:FCBC) last posted its quarterly earnings data on Tuesday, October 28th. The bank reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. First Community Bancshares had a return on equity of 9.83% and a net margin of 26.76%.The company had revenue of $42.19 million during the quarter, compared to analyst estimates of $40.40 million.

First Community Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 14th. First Community Bancshares’s payout ratio is currently 46.10%.

First Community Bancshares 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.