De Lisle Partners LLP Takes $4.15 Million Position in First National Corp. $FXNC

De Lisle Partners LLP bought a new position in shares of First National Corp. (NASDAQ:FXNC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 138,113 shares of the company’s stock, valued at approximately $4,152,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in First National by 59.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock valued at $41,000 after purchasing an additional 679 shares in the last quarter. Bank of America Corp DE increased its stake in First National by 5,013.2% during the 2nd quarter. Bank of America Corp DE now owns 3,477 shares of the company’s stock worth $68,000 after buying an additional 3,409 shares during the period. Los Angeles Capital Management LLC acquired a new position in First National in the 4th quarter worth $92,000. JPMorgan Chase & Co. acquired a new position in First National in the 2nd quarter worth $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in First National in the 2nd quarter valued at about $83,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

First National Stock Up 0.1%

Shares of NASDAQ:FXNC opened at $31.04 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $30.37 and a 200 day simple moving average of $28.56. The firm has a market cap of $280.60 million, a PE ratio of 12.93 and a beta of 0.42. First National Corp. has a 12-month low of $21.58 and a 12-month high of $33.24.

First National (NASDAQ:FXNC) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. First National had a net margin of 18.43% and a return on equity of 11.50%. The firm had revenue of $23.93 million for the quarter, compared to analysts’ expectations of $23.45 million. On average, equities research analysts anticipate that First National Corp. will post 2.44 EPS for the current fiscal year.

First National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Stockholders of record on Friday, August 28th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Friday, August 28th. First National’s dividend payout ratio is 28.33%.

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.