Scott C. Harvard Acquires 1,000 Shares of First National Co. (NASDAQ:FXNC) Stock

First National Co. (NASDAQ:FXNC) CEO Scott C. Harvard purchased 1,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were purchased at an average price of $14.90 per share, for a total transaction of $14,900.00. Following the purchase, the chief executive officer now owns 69,729 shares in the company, valued at approximately $1,038,962.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First National Stock Up 1.3 %

FXNC stock opened at $15.40 on Friday. The company has a market capitalization of $96.71 million, a P/E ratio of 10.77 and a beta of 0.51. First National Co. has a 12 month low of $13.55 and a 12 month high of $21.75. The firm’s fifty day simple moving average is $16.53 and its 200-day simple moving average is $18.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.81 and a quick ratio of 0.81.

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

First National Dividend Announcement

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

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

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.