First National Co. (FXNC) To Go Ex-Dividend on November 22nd

First National Co. (NASDAQ:FXNC) declared a quarterly dividend on Wednesday, November 8th, Zacks reports. Stockholders of record on Friday, November 24th will be paid a dividend of 0.15 per share on Friday, December 8th. This represents a $0.60 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend is Wednesday, November 22nd.

First National has increased its dividend payment by an average of 15.9% annually over the last three years and has increased its dividend every year for the last 8 years. First National has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First National to earn $1.77 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 33.9%.

First National Price Performance

Shares of FXNC opened at $18.63 on Monday. The firm has a market cap of $116.64 million, a price-to-earnings ratio of 7.67 and a beta of 0.51. The stock has a 50 day moving average of $18.17 and a 200-day moving average of $16.94. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13. First National has a 52 week low of $13.13 and a 52 week high of $19.44.

First National (NASDAQ:FXNC) last issued its earnings results on Thursday, October 26th. The company reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. First National had a return on equity of 13.71% and a net margin of 22.10%. The company had revenue of $13.74 million during the quarter, compared to analyst estimates of $13.50 million. As a group, analysts forecast that First National will post 2.15 EPS for the current year.

Insider Activity at First National

In other First National news, Director Gerald F. Smith, Jr. bought 1,800 shares of the business’s stock in a transaction on Monday, September 25th. The shares were purchased at an average price of $17.15 per share, with a total value of $30,870.00. Following the purchase, the director now directly owns 15,814 shares of the company’s stock, valued at $271,210.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other First National news, Director Gerald F. Smith, Jr. bought 1,675 shares of the business’s stock in a transaction on Wednesday, September 27th. The shares were purchased at an average price of $17.00 per share, with a total value of $28,475.00. Following the purchase, the director now directly owns 17,489 shares of the company’s stock, valued at $297,313. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gerald F. Smith, Jr. bought 1,800 shares of the business’s stock in a transaction on Monday, September 25th. The shares were acquired at an average cost of $17.15 per share, for a total transaction of $30,870.00. Following the purchase, the director now directly owns 15,814 shares in the company, valued at $271,210.10. The disclosure for this purchase can be found here. Insiders purchased 9,176 shares of company stock worth $155,640 in the last 90 days. 16.48% of the stock is currently owned by company insiders.

Institutional Trading of First National

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in shares of First National by 295.9% during the third quarter. Tower Research Capital LLC TRC now owns 2,522 shares of the company’s stock valued at $38,000 after buying an additional 1,885 shares in the last quarter. Jane Street Group LLC purchased a new position in First National in the third quarter valued at about $158,000. State Street Corp purchased a new position in First National in the second quarter valued at about $191,000. BlackRock Inc. grew its stake in First National by 5.2% in the second quarter. BlackRock Inc. now owns 17,538 shares of the company’s stock valued at $290,000 after purchasing an additional 869 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in First National in the second quarter valued at about $295,000. Institutional investors own 42.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott lowered First National from a “buy” rating to a “neutral” rating and set a $19.00 price objective for the company. in a research report on Tuesday, September 12th. They noted that the move was a valuation call.

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.