First National (NASDAQ:FXNC) Shares Down 0.2% – Time to Sell?

First National Corp. (NASDAQ:FXNC) was down 0.2% on Monday . The stock traded as low as $25.50 and last traded at $25.96. Approximately 20,805 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 23,642 shares. The stock had previously closed at $26.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of First National in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.50.

First National Trading Down 0.2%

The firm has a 50-day moving average of $25.13 and a two-hundred day moving average of $23.43. The firm has a market capitalization of $233.90 million, a P/E ratio of 20.60 and a beta of 0.49. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17.

First National (NASDAQ:FXNC) last issued its earnings results on Thursday, October 30th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. First National had a return on equity of 11.34% and a net margin of 9.53%.The firm had revenue of $22.80 million during the quarter, compared to the consensus estimate of $22.70 million. On average, analysts anticipate that First National Corp. will post 2.25 EPS for the current year.

First National Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were given a $0.17 dividend. This is a boost from First National’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, November 28th. First National’s dividend payout ratio is 53.97%.

Hedge Funds Weigh In On First National

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of First National by 59.5% in the third quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock worth $41,000 after purchasing an additional 679 shares during the last quarter. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of First National in the 2nd quarter valued at about $38,000. Bank of America Corp DE increased its stake in shares of First National by 5,013.2% in the second quarter. Bank of America Corp DE now owns 3,477 shares of the company’s stock valued at $68,000 after buying an additional 3,409 shares during the period. JPMorgan Chase & Co. bought a new position in shares of First National during the second quarter worth about $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of First National in the second quarter worth approximately $83,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

About First National

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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.