First National Corp. (FXNC) To Go Ex-Dividend on May 29th

First National Corp. (NASDAQ:FXNC) declared a quarterly dividend on Wednesday, May 13th. Shareholders of record on Friday, May 29th will be given a dividend of 0.17 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 29th.

First National has increased its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 10 consecutive years. First National has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First National to earn $2.54 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 26.8%.

First National Trading Up 0.4%

NASDAQ:FXNC opened at $27.94 on Wednesday. First National has a twelve month low of $18.31 and a twelve month high of $29.85. 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 business has a 50 day moving average price of $27.50 and a two-hundred day moving average price of $26.34. The company has a market cap of $252.61 million, a P/E ratio of 11.99 and a beta of 0.44.

First National (NASDAQ:FXNC) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. First National had a return on equity of 11.48% and a net margin of 17.94%.The firm had revenue of $22.50 million during the quarter, compared to the consensus estimate of $23.30 million. As a group, analysts expect that First National will post 2.35 EPS for the current fiscal year.

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.