PL Capital Advisors LLC Takes Position in First National Co. (NASDAQ:FXNC)

PL Capital Advisors LLC acquired a new stake in shares of First National Co. (NASDAQ:FXNC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,400 shares of the company’s stock, valued at approximately $78,000. First National makes up about 0.0% of PL Capital Advisors LLC’s holdings, making the stock its 29th largest holding.

Other hedge funds have also recently made changes to their positions in the company. DAVENPORT & Co LLC bought a new position in shares of First National during the 4th quarter valued at $678,000. Founders Grove Wealth Partners LLC purchased a new stake in First National during the fourth quarter valued at about $252,000. De Lisle Partners LLP grew its stake in shares of First National by 41.3% during the third quarter. De Lisle Partners LLP now owns 35,895 shares of the company’s stock valued at $642,000 after buying an additional 10,500 shares during the last quarter. Salzhauer Michael purchased a new position in shares of First National in the fourth quarter worth about $202,000. Finally, Brown Brothers Harriman & Co. bought a new stake in First National in the third quarter valued at approximately $88,000. 33.92% of the stock is currently owned by institutional investors.

First National Price Performance

FXNC opened at $24.72 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a market cap of $221.74 million, a price-to-earnings ratio of 21.31 and a beta of 0.54. The stock has a fifty day simple moving average of $24.42 and a two-hundred day simple moving average of $21.73. First National Co. has a 12-month low of $14.50 and a 12-month high of $26.97.

First National (NASDAQ:FXNC) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.47 by $0.19. First National had a net margin of 7.51% and a return on equity of 12.09%. Research analysts predict that First National Co. will post 2.25 earnings per share for the current fiscal year.

First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, February 28th. First National’s dividend payout ratio (DPR) is presently 53.45%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FXNC. Janney Montgomery Scott lowered shares of First National from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th. Hovde Group lowered shares of First National from an “outperform” rating to a “market perform” rating and set a $28.50 target price on the stock. in a research note on Tuesday, February 11th.

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.