First National Co. to Issue Quarterly Dividend of $0.16 (NASDAQ:FXNC)

First National Co. (NASDAQ:FXNC) announced a quarterly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Investors of record on Friday, February 28th will be given a dividend of 0.155 per share on Friday, March 14th. This represents a $0.62 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, February 28th.

First National has raised its dividend payment by an average of 8.0% per year over the last three years. First National has a payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First National to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 25.8%.

First National Stock Up 0.9 %

Shares of FXNC traded up $0.22 during trading hours on Wednesday, hitting $24.94. 1,839 shares of the company were exchanged, compared to its average volume of 20,139. The firm’s 50 day moving average is $24.42 and its 200-day moving average is $21.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. First National has a 52 week low of $14.50 and a 52 week high of $26.97. The company has a market cap of $223.67 million, a PE ratio of 21.50 and a beta of 0.54.

First National (NASDAQ:FXNC) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.47 by $0.19. First National had a return on equity of 12.09% and a net margin of 7.51%. On average, equities research analysts forecast that First National will post 2.25 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.