First National (NASDAQ:FXNC) Trading Up 1.4%

First National Co. (NASDAQ:FXNC)’s share price was up 1.4% on Tuesday . The stock traded as high as $19.10 and last traded at $19.00. Approximately 27,707 shares changed hands during mid-day trading, an increase of 340% from the average daily volume of 6,301 shares. The stock had previously closed at $18.74.

Analyst Ratings Changes

Separately, Janney Montgomery Scott downgraded First National from a “buy” rating to a “neutral” rating and set a $19.00 target price for the company. in a report on Tuesday, September 12th. They noted that the move was a valuation call.

First National Trading Up 1.4 %

The company has a 50 day simple moving average of $18.14 and a 200 day simple moving average of $16.84. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $118.73 million, a PE ratio of 7.82 and a beta of 0.51.

First National (NASDAQ:FXNC) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $13.74 million during the quarter, compared to the consensus estimate of $13.50 million. First National had a return on equity of 13.74% and a net margin of 22.10%. Analysts predict that First National Co. will post 2.15 earnings per share for the current fiscal year.

First National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Friday, November 24th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, November 22nd. First National’s payout ratio is 24.69%.

Insiders Place Their Bets

In other First National news, Director Gerald F. Smith, Jr. bought 1,800 shares of the company’s stock in a transaction on Monday, September 25th. The shares were bought at an average price of $17.15 per share, for a total transaction of $30,870.00. Following the transaction, the director now owns 15,814 shares of the company’s stock, valued at approximately $271,210.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other First National news, Director Gerald F. Smith, Jr. bought 1,800 shares of the company’s stock in a transaction on Monday, September 25th. The shares were bought at an average price of $17.15 per share, for a total transaction of $30,870.00. Following the transaction, the director now owns 15,814 shares of the company’s stock, valued at approximately $271,210.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gerald F. Smith, Jr. purchased 3,200 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was purchased at an average price of $16.45 per share, for a total transaction of $52,640.00. Following the acquisition, the director now owns 14,014 shares in the company, valued at $230,530.30. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 9,176 shares of company stock worth $155,640. Company insiders own 16.48% of the company’s stock.

Institutional Investors Weigh In On First National

A number of institutional investors and hedge funds have recently modified their holdings of FXNC. Coppell Advisory Solutions LLC grew its holdings in shares of First National by 442.0% in the 2nd quarter. Coppell Advisory Solutions LLC now owns 150,512 shares of the company’s stock worth $2,337,000 after acquiring an additional 122,741 shares during the period. Fourthstone LLC lifted its stake in First National by 11.4% in the 1st quarter. Fourthstone LLC now owns 573,177 shares of the company’s stock valued at $12,037,000 after buying an additional 58,532 shares in the last quarter. RFG Advisory LLC purchased a new stake in First National in the 4th quarter valued at approximately $325,000. Commonwealth Equity Services LLC lifted its stake in First National by 103.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 36,282 shares of the company’s stock valued at $639,000 after buying an additional 18,412 shares in the last quarter. Finally, State Street Corp purchased a new stake in First National in the 2nd quarter valued at approximately $191,000. Institutional investors and hedge funds own 42.52% of the company’s stock.

First National Company Profile

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.