Siena Capital Partners GP LLC Decreases Holdings in First National Corp. $FXNC

Siena Capital Partners GP LLC reduced its holdings in First National Corp. (NASDAQ:FXNC) by 12.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 276,043 shares of the company’s stock after selling 40,300 shares during the period. First National makes up approximately 1.9% of Siena Capital Partners GP LLC’s holdings, making the stock its 12th largest holding. Siena Capital Partners GP LLC’s holdings in First National were worth $6,967,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of FXNC. Geode Capital Management LLC lifted its stake in shares of First National by 109.7% in the second quarter. Geode Capital Management LLC now owns 180,312 shares of the company’s stock worth $3,512,000 after buying an additional 94,314 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of First National in the first quarter worth about $598,000. Goldman Sachs Group Inc. lifted its stake in shares of First National by 157.7% in the first quarter. Goldman Sachs Group Inc. now owns 40,744 shares of the company’s stock worth $915,000 after buying an additional 24,931 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of First National by 50.8% in the second quarter. Marshall Wace LLP now owns 31,699 shares of the company’s stock worth $617,000 after buying an additional 10,685 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of First National in the second quarter worth about $199,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FXNC has been the topic of several research reports. Wall Street Zen raised shares of First National from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Weiss Ratings raised shares of First National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

First National Price Performance

First National stock opened at $29.06 on Monday. First National Corp. has a 12-month low of $18.31 and a 12-month high of $29.85. The stock has a market cap of $262.70 million, a P/E ratio of 12.47 and a beta of 0.45. The company has a 50-day moving average price of $27.81 and a 200 day moving average price of $26.60. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09.

First National (NASDAQ:FXNC) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.02. First National had a net margin of 17.94% and a return on equity of 11.48%. The firm had revenue of $22.50 million during the quarter, compared to analysts’ expectations of $23.30 million. Sell-side analysts anticipate that First National Corp. will post 2.35 earnings per share for the current year.

First National Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, May 29th. First National’s dividend payout ratio (DPR) is presently 29.18%.

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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.