Hsbc Holdings PLC Acquires Shares of 23,970 First National Corp. $FXNC

Hsbc Holdings PLC bought a new position in First National Corp. (NASDAQ:FXNC) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 23,970 shares of the company’s stock, valued at approximately $650,000. Hsbc Holdings PLC owned about 0.27% of First National as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FXNC. BNP Paribas Financial Markets raised its holdings in First National by 59.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock worth $41,000 after acquiring an additional 679 shares during the last quarter. Bank of America Corp DE boosted its stake in First National by 5,013.2% during the 2nd quarter. Bank of America Corp DE now owns 3,477 shares of the company’s stock valued at $68,000 after purchasing an additional 3,409 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in shares of First National in the 2nd quarter worth $72,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of First National in the 2nd quarter worth $83,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of First National in the fourth quarter worth $92,000. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Wall Street Analyst Weigh In

FXNC has been the topic of a number of research analyst reports. Wall Street Zen raised First National from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Raymond James Financial started coverage on First National in a research report on Thursday, June 25th. They issued a “market perform” rating for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First National in a research note on Monday, July 13th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, First National currently has an average rating of “Moderate Buy”.

First National Trading Up 0.9%

NASDAQ:FXNC opened at $31.64 on Friday. The company has a market cap of $286.03 million, a PE ratio of 13.18 and a beta of 0.43. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a 50 day simple moving average of $29.35 and a two-hundred day simple moving average of $27.91. First National Corp. has a 12 month low of $20.78 and a 12 month high of $31.91.

First National (NASDAQ:FXNC) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $24.00 million for the quarter, compared to analysts’ expectations of $23.45 million. First National had a return on equity of 11.62% and a net margin of 18.43%. Research analysts forecast that First National Corp. will post 2.38 earnings per share for the current year.

First National Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Friday, May 29th. First National’s dividend payout ratio (DPR) is presently 29.18%.

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.