First National Co. (NASDAQ:FXNC) CFO Brad E. Schwartz Buys 1,000 Shares

First National Co. (NASDAQ:FXNC) CFO Brad E. Schwartz bought 1,000 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $19.65 per share, for a total transaction of $19,650.00. Following the transaction, the chief financial officer now owns 4,000 shares in the company, valued at $78,600. The trade was a 33.33% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

First National Stock Up 0.4%

NASDAQ:FXNC opened at $19.70 on Monday. The company has a market cap of $177.04 million, a PE ratio of 16.98 and a beta of 0.51. First National Co. has a twelve month low of $14.75 and a twelve month high of $26.97. 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’s 50 day moving average is $19.95 and its two-hundred day moving average is $22.65.

First National Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, May 30th. First National’s dividend payout ratio is presently 74.70%.

Institutional Trading of First National

Large investors have recently bought and sold shares of the stock. DAVENPORT & Co LLC acquired a new stake in First National during the 4th quarter valued at approximately $678,000. Empowered Funds LLC lifted its stake in First National by 4.4% during the 4th quarter. Empowered Funds LLC now owns 14,130 shares of the company’s stock valued at $325,000 after acquiring an additional 600 shares during the period. Salzhauer Michael acquired a new stake in First National during the 4th quarter valued at approximately $202,000. PL Capital Advisors LLC acquired a new stake in First National during the 4th quarter valued at approximately $1,800,000. Finally, Alliancebernstein L.P. acquired a new stake in First National during the 4th quarter valued at approximately $5,538,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group downgraded 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 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.