James R. Wilkins III Acquires 4,257 Shares of First National Co. (NASDAQ:FXNC) Stock

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

First National Stock Up 1.3 %

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

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

First National Dividend Announcement

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

Institutional Investors Weigh In On First National

An institutional investor recently raised its position in First National stock. Commonwealth Equity Services LLC raised its position in shares of First National Co. (NASDAQ:FXNC) by 103.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,282 shares of the company’s stock after acquiring an additional 18,412 shares during the quarter. Commonwealth Equity Services LLC owned about 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.

Analysts Set New Price Targets

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

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.