First National Corp. (FXNC) to Issue Quarterly Dividend of $0.17 on September 11th

First National Corp. (NASDAQ:FXNC) declared a quarterly dividend on Wednesday, August 12th. Investors of record on Friday, August 28th will be paid a dividend of 0.17 per share on Friday, September 11th. This represents a c) annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, August 28th.

First National has increased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 10 consecutive years. First National has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect First National to earn $2.58 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.4%.

First National Trading Up 0.1%

NASDAQ FXNC opened at $31.10 on Wednesday. The stock’s 50-day simple moving average is $30.44 and its two-hundred day simple moving average is $28.62. First National has a twelve month low of $21.58 and a twelve month high of $33.24. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $281.14 million, a price-to-earnings ratio of 12.96 and a beta of 0.42.

First National (NASDAQ:FXNC) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. First National had a return on equity of 11.50% and a net margin of 18.43%.The firm had revenue of $23.93 million during the quarter, compared to analyst estimates of $23.45 million. Research analysts forecast that First National will post 2.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on FXNC shares. Wall Street Zen upgraded First National from a “sell” rating to a “hold” rating in a research report on Saturday, May 30th. Raymond James Financial assumed coverage on shares of First National in a research report on Thursday, June 25th. They set a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First National in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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. 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.