First National Co. (NASDAQ:FXNC) to Issue $0.14 Quarterly Dividend

First National Co. (NASDAQ:FXNCGet Rating) declared a quarterly dividend on Monday, May 16th, Wall Street Journal reports. Shareholders of record on Friday, May 27th will be paid a dividend of 0.14 per share on Friday, June 10th. This represents a $0.56 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Thursday, May 26th.

First National has increased its dividend by an average of 33.9% per year over the last three years and has increased its dividend annually for the last 7 consecutive years.

First National stock traded up $0.10 during trading hours on Monday, hitting $20.00. The stock had a trading volume of 2,720 shares, compared to its average volume of 3,634. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $125 million, a P/E ratio of 9.85 and a beta of 0.49. First National has a 12-month low of $17.95 and a 12-month high of $23.96. The stock’s 50-day moving average price is $20.95 and its 200-day moving average price is $22.02.

First National (NASDAQ:FXNCGet Rating) last issued its earnings results on Tuesday, April 26th. The company reported $0.60 earnings per share (EPS) for the quarter. First National had a net margin of 22.93% and a return on equity of 10.84%. The business had revenue of $13.26 million during the quarter.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fourthstone LLC lifted its position in First National by 11.4% during the first quarter. Fourthstone LLC now owns 573,177 shares of the company’s stock valued at $12,037,000 after purchasing an additional 58,532 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of First National by 40.5% in the first quarter. Bank of New York Mellon Corp now owns 17,801 shares of the company’s stock worth $374,000 after purchasing an additional 5,130 shares during the last quarter. Finally, BlackRock Inc. increased its holdings in shares of First National by 3.3% in the fourth quarter. BlackRock Inc. now owns 14,468 shares of the company’s stock worth $333,000 after purchasing an additional 464 shares during the last quarter. Institutional investors and hedge funds own 38.01% of the company’s stock.

About First National (Get Rating)

First National Corporation operates as the bank holding company for First Bank that provides various commercial banking services to small and medium-sized businesses, individuals, estates, local governmental entities, and non-profit organizations in Virginia. The company's deposit products include checking, savings, money market, and individual retirement accounts, as well as certificates of deposit and treasury management solutions.

Further Reading

Dividend History for First National (NASDAQ:FXNC)

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