First National (NASDAQ:FXNC) CFO Brad Schwartz Buys 1,000 Shares

First National Corp. (NASDAQ:FXNC) CFO Brad Schwartz bought 1,000 shares of First National stock in a transaction that occurred on Wednesday, March 4th. The shares were acquired at an average price of $26.91 per share, for a total transaction of $26,910.00. Following the acquisition, the chief financial officer directly owned 6,470 shares in the company, valued at approximately $174,107.70. This represents a 18.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First National Stock Down 1.0%

Shares of FXNC traded down $0.27 during midday trading on Thursday, reaching $26.49. 31,273 shares of the company were exchanged, compared to its average volume of 54,833. First National Corp. has a 1-year low of $18.26 and a 1-year high of $28.89. The stock has a 50-day moving average price of $26.42 and a 200-day moving average price of $24.53. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. The company has a market cap of $238.67 million, a price-to-earnings ratio of 13.45 and a beta of 0.51.

First National (NASDAQ:FXNC) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $23.97 million for the quarter, compared to analyst estimates of $22.60 million. First National had a return on equity of 11.01% and a net margin of 15.19%. Research analysts expect that First National Corp. will post 2.25 earnings per share for the current year.

First National Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, February 27th. First National’s dividend payout ratio is presently 34.52%.

Institutional Trading of First National

Several hedge funds have recently made changes to their positions in the stock. Fourthstone LLC lifted its stake in First National by 1.7% in the fourth quarter. Fourthstone LLC now owns 888,672 shares of the company’s stock valued at $22,430,000 after buying an additional 15,026 shares during the last quarter. Geode Capital Management LLC boosted its stake in First National by 109.7% during the 2nd quarter. Geode Capital Management LLC now owns 180,312 shares of the company’s stock valued at $3,512,000 after purchasing an additional 94,314 shares during the period. De Lisle Partners LLP grew its position in First National by 92.3% in the 2nd quarter. De Lisle Partners LLP now owns 138,113 shares of the company’s stock worth $2,689,000 after purchasing an additional 66,289 shares during the last quarter. State Street Corp increased its stake in shares of First National by 10.6% in the fourth quarter. State Street Corp now owns 82,082 shares of the company’s stock valued at $2,072,000 after purchasing an additional 7,879 shares during the period. Finally, Bridgeway Capital Management LLC boosted its position in shares of First National by 3.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 50,414 shares of the company’s stock worth $1,272,000 after buying an additional 1,837 shares during the period. Institutional investors own 33.92% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of First National in a report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

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.