First National (NASDAQ:FXNC) Trading 1.3% Higher – Time to Buy?

First National Corp. (NASDAQ:FXNC) shares shot up 1.3% during trading on Monday . The company traded as high as $31.54 and last traded at $31.45. 22,217 shares changed hands during trading, a decline of 28% from the average daily volume of 30,921 shares. The stock had previously closed at $31.06.

Wall Street Analysts Forecast Growth

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

First National Trading Down 0.9%

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 business’s 50-day simple moving average is $30.79 and its two-hundred day simple moving average is $28.96. The company has a market capitalization of $282.73 million, a PE ratio of 13.03 and a beta of 0.42.

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

First National Dividend Announcement

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

Institutional Trading of First National

Several institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in First National by 6.8% during the first quarter. Bank of America Corp DE now owns 12,254 shares of the company’s stock worth $330,000 after acquiring an additional 780 shares during the period. Dimensional Fund Advisors LP boosted its stake in First National by 68.7% in the first quarter. Dimensional Fund Advisors LP now owns 50,267 shares of the company’s stock valued at $1,353,000 after acquiring an additional 20,466 shares during the period. Hsbc Holdings PLC acquired a new position in First National in the first quarter valued at approximately $650,000. Piedmont Capital Management LLC NC bought a new position in shares of First National during the fourth quarter valued at approximately $1,084,000. Finally, De Lisle Partners LLP bought a new position in shares of First National during the second quarter valued at approximately $4,152,000. 33.92% of the stock is owned by institutional investors and hedge funds.

About First National

First National Corporation (NASDAQ: FXNC) is a bank holding company headquartered in Strasburg, Virginia. The company operates through its wholly owned subsidiary, First Bank, a community banking institution that provides financial services to individuals, families and businesses.

First Bank offers a range of traditional banking products, including checking and savings accounts, certificates of deposit, consumer loans, residential and commercial real estate lending, and business loans.