Insider Buying: First National Co. (NASDAQ:FXNC) Director Purchases 4,257 Shares of Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III purchased 4,257 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $15.01 per share, for a total transaction of $63,897.57. Following the purchase, the director now owns 283,034 shares in the company, valued at $4,248,340.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

First National Stock Performance

Shares of FXNC opened at $15.40 on Friday. The company has a market cap of $96.71 million, a price-to-earnings ratio of 10.77 and a beta of 0.51. The business’s fifty day simple moving average is $16.53 and its two-hundred day simple moving average is $18.61. First National Co. has a 12 month low of $13.55 and a 12 month high of $21.75. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.12.

First National (NASDAQ:FXNC) last announced its quarterly earnings results on Thursday, February 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.62). First National had a net margin of 12.21% and a return on equity of 7.90%. The business had revenue of $13.88 million for the quarter, compared to the consensus estimate of $13.60 million. Research analysts anticipate that First National Co. will post 1.79 earnings per share for the current fiscal year.

First National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend was Thursday, February 29th. First National’s payout ratio is presently 41.96%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in First National stock. Commonwealth Equity Services LLC boosted its stake in First National Co. (NASDAQ:FXNC) by 103.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,282 shares of the company’s stock after purchasing an additional 18,412 shares during the period. Commonwealth Equity Services LLC owned approximately 0.58% of First National worth $639,000 at the end of the most recent quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

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.