First National Corp. (NASDAQ:FXNC) Announces $0.17 Quarterly Dividend

First National Corp. (NASDAQ:FXNC) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Friday, February 27th will be paid a dividend of 0.17 per share on Friday, March 13th. This represents a c) dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, February 27th.

First National has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 10 consecutive years. First National has a dividend payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First National to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 28.3%.

First National Trading Up 2.0%

FXNC stock traded up $0.56 during trading on Friday, reaching $28.21. The company had a trading volume of 127,958 shares, compared to its average volume of 47,792. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. First National has a 52 week low of $18.26 and a 52 week high of $28.89. The business has a 50 day moving average of $25.95 and a 200 day moving average of $23.96. The company has a market cap of $254.17 million, a P/E ratio of 14.32 and a beta of 0.50.

First National (NASDAQ:FXNC) last released its earnings results on Thursday, January 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company had revenue of $23.97 million during the quarter, compared to analysts’ expectations of $22.60 million. First National had a return on equity of 11.01% and a net margin of 15.19%. As a group, sell-side analysts forecast that First National will post 2.25 earnings per share for the current fiscal year.

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. 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.