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

First National Corp. (NASDAQ:FXNC) declared a quarterly dividend on Wednesday, May 13th. Stockholders of record on Friday, May 29th will be given a dividend of 0.17 per share on Friday, June 12th. This represents a c) annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, May 29th.

First National has raised its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 10 years. First National has a dividend payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First National to earn $2.54 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 26.8%.

First National Stock Performance

Shares of FXNC stock traded down $0.45 during trading on Friday, hitting $26.47. The company’s stock had a trading volume of 29,999 shares, compared to its average volume of 68,148. The company has a market cap of $239.29 million, a PE ratio of 11.37 and a beta of 0.44. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.09. The business has a fifty day moving average of $27.35 and a 200-day moving average of $26.07. First National has a 52 week low of $18.31 and a 52 week high of $29.85.

First National (NASDAQ:FXNC) last released its earnings results on Thursday, April 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $22.50 million during the quarter, compared to analyst estimates of $23.30 million. First National had a return on equity of 11.61% and a net margin of 17.94%. As a group, research analysts anticipate that First National will post 2.35 earnings per share for the current 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.