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First community bankshares CFO sells over $35k in company stock

Published 05/14/2024, 03:32 PM

First Community (NASDAQ:FCCO) Bankshares Inc. (NASDAQ:FCBC) CFO David D. Brown recently sold shares of the company's stock, according to a new SEC filing. The transaction, which took place on May 13, 2024, involved the sale of 1,017 shares at a price of $35.25 per share, resulting in a total transaction value of $35,849.

The sale by the Chief Financial Officer has adjusted Brown's direct holdings in the company to 14,026 shares. In addition to his direct holdings, the filing revealed indirect ownership through an Individual Retirement Account (IRA) and an Employee Stock Ownership & Savings Plan, holding 1,650 and 4,151 shares respectively.

Investors often monitor insider transactions as they can provide insights into how executives perceive the company's stock value and future prospects. While the sale represents a notable transaction, it is also important to consider the remaining stake that Brown holds in First Community Bankshares, which suggests a continued vested interest in the company's performance.

First Community Bankshares Inc., headquartered in Bluefield, Virginia, is a financial institution offering a range of banking products and services. The company has been serving its community with a focus on commercial banking, as indicated by its SIC classification as a state commercial bank.

The details of Brown's sale, including the number of shares sold and the price per share, are publicly available in the SEC filing, providing transparency to investors and the market. It is important for investors to consider such transactions in the broader context of their investment strategy and market performance.

As of the date of the transaction, First Community Bankshares Inc. stock is publicly traded under the ticker symbol FCBC on the NASDAQ exchange.

InvestingPro Insights

As investors evaluate the insider selling at First Community Bankshares Inc. (NASDAQ:FCBC), understanding the company's financial health and market performance is crucial. According to real-time data from InvestingPro, FCBC boasts a market capitalization of $645.13 million, reflecting its standing in the financial sector. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, stands at a reasonable 13.31, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at a slightly lower 12.17. This suggests that the stock is valued fairly in relation to its earnings.

The company's revenue growth is also notable, with a 9.27% increase over the last twelve months as of Q1 2024, and a more recent quarterly revenue growth of 10.0% for Q1 2024. These figures indicate a healthy expansion in First Community Bankshares' financial performance. Moreover, the company's dividend yield as of the latest data is 3.33%, with a record of maintaining dividend payments for an impressive 31 consecutive years, as highlighted in one of the InvestingPro Tips. This consistency in dividend payments can be attractive to income-focused investors.

InvestingPro Tips further reveal that FCBC has raised its dividend for four consecutive years and has a high return over the last year at 52.29%. These tips, along with the additional 15 InvestingPro Tips available for FCBC at InvestingPro, provide a deeper dive into the company's performance and potential. For investors seeking a comprehensive analysis, using the coupon code PRONEWS24 can unlock a 10% discount on a yearly or biyearly Pro and Pro+ subscription, offering even more insights to inform investment decisions.

While the insider sale by CFO David D. Brown is a singular event, the broader financial metrics and consistent dividend payments suggest a company with a solid financial foundation and a commitment to shareholder returns. These factors are essential for investors to consider alongside insider transactions when assessing the investment potential of First Community Bankshares Inc.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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