First National (NASDAQ:FXNC) Stock Rating Raised to Strong-Buy at Zacks Research

First National (NASDAQ:FXNC) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of First National in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.

First National Stock Performance

Shares of NASDAQ:FXNC opened at $31.45 on Monday. First National has a 1-year low of $22.09 and a 1-year high of $33.24. The company has a 50 day moving average price of $30.37 and a 200 day moving average price of $28.73.

First National (NASDAQ:FXNC) last posted its quarterly earnings results on Friday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.13. The company had revenue of $25.29 million during the quarter, compared to the consensus estimate of $24.27 million. Sell-side analysts predict that First National will post 2.62 earnings per share for the current year.

Hedge Funds Weigh In On First National

Several institutional investors and hedge funds have recently bought and sold shares of FXNC. De Lisle Partners LLP acquired a new position in shares of First National in the 2nd quarter valued at about $4,152,000. Bank of America Corp DE lifted its position in shares of First National by 6.8% in the first quarter. Bank of America Corp DE now owns 12,254 shares of the company’s stock worth $330,000 after purchasing an additional 780 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First National by 68.7% in the first quarter. Dimensional Fund Advisors LP now owns 50,267 shares of the company’s stock worth $1,353,000 after purchasing an additional 20,466 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of First National in the first quarter worth approximately $650,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

First National Company Profile

First National Corporation (NASDAQ: FXNC) is a bank holding company headquartered in Strasburg, Virginia. The company operates through its principal subsidiary, First Bank, a community banking institution serving individuals, families, businesses and organizations in Virginia.

First Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential real estate lending, commercial loans, mortgage services and online and mobile banking.