First National Co. (NASDAQ:FXNC) Director Acquires $12,120.00 in Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III purchased 800 shares of First National stock in a transaction that occurred on Thursday, June 20th. The stock was purchased at an average price of $15.15 per share, with a total value of $12,120.00. Following the transaction, the director now owns 297,543 shares in the company, valued at approximately $4,507,776.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

First National Stock Up 1.9 %

FXNC stock opened at $15.24 on Thursday. The company has a market cap of $95.71 million, a price-to-earnings ratio of 10.66 and a beta of 0.51. The company has a 50 day moving average of $15.28 and a two-hundred day moving average of $17.68. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12. First National Co. has a 12-month low of $14.50 and a 12-month high of $21.75.

First National (NASDAQ:FXNC) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $14.90 million for the quarter, compared to the consensus estimate of $13.70 million. First National had a net margin of 12.21% and a return on equity of 7.83%. On average, equities analysts anticipate that First National Co. will post 1.85 earnings per share for the current fiscal year.

First National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.94%. First National’s dividend payout ratio is currently 41.96%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in First National stock. Empowered Funds LLC boosted its position in First National Co. (NASDAQ:FXNC) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,960 shares of the company’s stock after buying an additional 875 shares during the quarter. Empowered Funds LLC owned approximately 0.19% of First National worth $194,000 at the end of the most recent reporting period. 33.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, TheStreet downgraded shares of First National from a “b-” rating to a “c+” rating in a research report on Monday, March 18th.

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.