First National (NASDAQ:FXNC) Trading 1.3% Higher – What’s Next?

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

Analyst Upgrades and Downgrades

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

First National Stock Up 1.3%

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 stock has a 50-day simple moving average of $30.75 and a two-hundred day simple moving average of $28.93. The firm has a market cap of $284.40 million, a PE ratio of 13.10 and a beta of 0.42.

First National (NASDAQ:FXNC) last posted its quarterly earnings data 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. The firm had revenue of $23.93 million during the quarter, compared to analysts’ expectations of $23.45 million. First National had a return on equity of 11.50% and a net margin of 18.43%. Analysts expect that First National Corp. will post 2.44 earnings per share for the current year.

First National Dividend Announcement

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

Institutional Investors Weigh In On First National

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System grew its holdings in shares of First National by 682.5% during the 2nd quarter. California State Teachers Retirement System now owns 3,302 shares of the company’s stock valued at $110,000 after purchasing an additional 2,880 shares during the last quarter. Bank of America Corp DE raised its position in First National by 6.8% in the 1st quarter. Bank of America Corp DE now owns 12,254 shares of the company’s stock worth $330,000 after purchasing an additional 780 shares during the period. Hsbc Holdings PLC bought a new stake in First National in the first quarter worth $650,000. Piedmont Capital Management LLC NC purchased a new stake in First National during the fourth quarter valued at about $1,084,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of First National by 68.7% in the 1st 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 last quarter. 33.92% of the stock is currently owned by institutional investors.

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.