First National Corp. (NASDAQ:FXNC) Announces $0.17 Quarterly Dividend

First National Corp. (NASDAQ:FXNC) declared a quarterly dividend on Wednesday, February 11th. Stockholders of record on Friday, February 27th will be given a dividend of 0.17 per share on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, February 27th.

First National has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 10 years. First National has a payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First National to earn $2.40 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 28.3%.

First National Price Performance

Shares of First National stock traded up $0.56 during trading on Friday, hitting $28.21. The stock had a trading volume of 127,958 shares, compared to its average volume of 47,792. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. First National has a 12 month low of $18.26 and a 12 month high of $28.89. The firm has a market cap of $254.17 million, a price-to-earnings ratio of 14.32 and a beta of 0.50. The business’s 50-day moving average is $25.95 and its 200 day moving average is $23.96.

First National (NASDAQ:FXNC) last posted its quarterly earnings data on Thursday, January 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. First National had a return on equity of 11.01% and a net margin of 15.19%.The company had revenue of $23.97 million during the quarter, compared to analyst estimates of $22.60 million. As a group, sell-side analysts anticipate that First National will post 2.25 earnings per share for the current year.

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.