First National Co. (NASDAQ:FXNC) Director James R. Wilkins III Purchases 820 Shares

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III purchased 820 shares of the stock in a transaction on Friday, May 17th. The stock was acquired at an average price of $15.47 per share, for a total transaction of $12,685.40. Following the completion of the purchase, the director now directly owns 10,223 shares in the company, valued at approximately $158,149.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

First National Trading Up 0.3 %

Shares of First National stock opened at $15.55 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $97.65 million, a PE ratio of 10.87 and a beta of 0.51. First National Co. has a 52-week low of $14.50 and a 52-week high of $21.75. The firm has a 50-day moving average of $15.84 and a 200-day moving average of $18.30.

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 company had revenue of $14.90 million during 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%. As a group, sell-side analysts forecast that First National Co. will post 1.85 EPS for the current year.

First National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, May 23rd. First National’s dividend payout ratio (DPR) is currently 41.96%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC grew its stake in First National by 7.9% during the first quarter. Empowered Funds LLC now owns 11,960 shares of the company’s stock worth $194,000 after buying an additional 875 shares in the last quarter. Cutler Capital Management LLC lifted its holdings in shares of First National by 0.5% during the 4th quarter. Cutler Capital Management LLC now owns 202,745 shares of the company’s stock worth $4,410,000 after acquiring an additional 1,034 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of First National by 103.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 36,282 shares of the company’s stock worth $639,000 after acquiring an additional 18,412 shares in the last 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.