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

First National Co. (NASDAQ:FXNC – Get 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:FXNC – Get 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.

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