First National (NASDAQ:FXNC) CFO Brad Schwartz Purchases 1,000 Shares

First National Corp. (NASDAQ:FXNC) CFO Brad Schwartz purchased 1,000 shares of First National stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average price of $26.91 per share, with a total value of $26,910.00. Following the completion of the acquisition, the chief financial officer owned 6,470 shares in the company, valued at $174,107.70. The trade was a 18.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

First National Stock Up 0.6%

NASDAQ FXNC traded up $0.17 during trading on Wednesday, reaching $26.80. The company’s stock had a trading volume of 109,643 shares, compared to its average volume of 54,535. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $241.47 million, a PE ratio of 13.60 and a beta of 0.51. First National Corp. has a 1-year low of $18.26 and a 1-year high of $28.89. The business has a 50-day moving average price of $26.40 and a 200-day moving average price of $24.52.

First National (NASDAQ:FXNC) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business 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%. On average, research analysts forecast that First National Corp. will post 2.25 earnings per share for the current fiscal year.

First National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, February 27th. First National’s dividend payout ratio is 34.52%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Fourthstone LLC increased its position in First National by 1.7% during the fourth quarter. Fourthstone LLC now owns 888,672 shares of the company’s stock worth $22,430,000 after acquiring an additional 15,026 shares during the period. Geode Capital Management LLC increased its holdings in shares of First National by 109.7% during the 2nd quarter. Geode Capital Management LLC now owns 180,312 shares of the company’s stock worth $3,512,000 after purchasing an additional 94,314 shares during the period. De Lisle Partners LLP raised its position in shares of First National by 92.3% during the second quarter. De Lisle Partners LLP now owns 138,113 shares of the company’s stock valued at $2,689,000 after buying an additional 66,289 shares during the last quarter. State Street Corp lifted its stake in shares of First National by 10.6% in the fourth quarter. State Street Corp now owns 82,082 shares of the company’s stock valued at $2,072,000 after buying an additional 7,879 shares during the period. Finally, Bridgeway Capital Management LLC grew its position in First National by 3.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 50,414 shares of the company’s stock worth $1,272,000 after buying an additional 1,837 shares in the last quarter. 33.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First National in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

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.