Key Points
- CFO Brad Schwartz bought 1,000 shares at an average price of $26.91 for a total of $26,910, increasing his holding by 18.28% to 6,470 shares (about $174,108), per an SEC filing.
- First National beat Q4 estimates with EPS of $0.62 (vs. $0.60) and revenue of $23.97M; the stock trades around $26.49 with a market cap of roughly $239M and a P/E of 13.45.
- The company declared a quarterly dividend of $0.17 per share (annualized $0.68) with a 2.6% yield, ex-dividend date Feb 27 and payable Mar 13, and a dividend payout ratio of about 34.5%.
First National Corp. (NASDAQ:FXNC - Get Free Report) CFO Brad Schwartz purchased 1,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were acquired at an average cost of $26.91 per share, for a total transaction of $26,910.00. Following the completion of the acquisition, the chief financial officer directly owned 6,470 shares of the company's stock, valued at approximately $174,107.70. This trade represents a 18.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.
First National Price Performance
FXNC stock traded down $0.27 during trading on Thursday, hitting $26.49. The company had a trading volume of 31,273 shares, compared to its average volume of 54,833. The business has a 50 day moving average of $26.42 and a 200 day moving average of $24.53. The firm has a market capitalization of $238.67 million, a price-to-earnings ratio of 13.45 and a beta of 0.51. 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 Corp. has a fifty-two week low of $18.26 and a fifty-two week high of $28.89.
First National (NASDAQ:FXNC - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. The company had revenue of $23.97 million for the quarter, compared to the consensus estimate of $22.60 million. First National had a net margin of 15.19% and a return on equity of 11.01%. As a group, research analysts predict that First National Corp. will post 2.25 earnings per share for the current year.
First National Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, February 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.6%. First National's dividend payout ratio (DPR) is 34.52%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of First National in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold".
View Our Latest Stock Analysis on First National
Institutional Investors Weigh In On First National
A number of institutional investors have recently bought and sold shares of FXNC. Goldman Sachs Group Inc. raised its holdings in shares of First National by 5.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 11,069 shares of the company's stock worth $279,000 after acquiring an additional 610 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of First National by 59.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company's stock worth $41,000 after purchasing an additional 679 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of First National by 6.8% during the 1st quarter. Empowered Funds LLC now owns 15,089 shares of the company's stock valued at $339,000 after buying an additional 959 shares during the last quarter. Rhumbline Advisers grew its stake in shares of First National by 9.5% in the 3rd quarter. Rhumbline Advisers now owns 11,197 shares of the company's stock valued at $254,000 after buying an additional 974 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its holdings in First National by 2.5% in the second quarter. Bridgeway Capital Management LLC now owns 47,038 shares of the company's stock worth $916,000 after buying an additional 1,149 shares during the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.
About First National
(
Get Free Report)
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.
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