First National (NASDAQ:FXNC) Stock Rating Upgraded by Zacks Research

First National (NASDAQ:FXNC) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings restated a “buy (b)” rating on shares of First National in a report on Friday, October 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy”.

First National Stock Up 4.1%

First National stock opened at $31.45 on Monday. First National has a 1-year low of $22.09 and a 1-year high of $33.24. The company has a fifty day simple moving average of $30.37 and a 200 day simple moving average of $28.73.

First National (NASDAQ:FXNC) last issued its quarterly earnings results on Friday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.63 by $0.13. The business had revenue of $25.29 million for the quarter, compared to the consensus estimate of $24.27 million. On average, equities analysts expect that First National will post 2.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in First National by 6.8% in the 1st quarter. Bank of America Corp DE now owns 12,254 shares of the company’s stock valued at $330,000 after purchasing an additional 780 shares during the last quarter. Hsbc Holdings PLC acquired a new position in First National during the first quarter worth approximately $650,000. Dimensional Fund Advisors LP raised its stake in First National by 68.7% in the first quarter. Dimensional Fund Advisors LP now owns 50,267 shares of the company’s stock valued at $1,353,000 after buying an additional 20,466 shares during the period. Finally, De Lisle Partners LLP bought a new stake in First National in the second quarter valued at approximately $4,152,000. 33.92% of the stock is currently owned by institutional investors and hedge funds.

About First National

First National Corporation (NASDAQ: FXNC) is a bank holding company headquartered in Strasburg, Virginia. The company operates through its principal subsidiary, First Bank, a community banking institution serving individuals, families, businesses and organizations in Virginia.

First Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential real estate lending, commercial loans, mortgage services and online and mobile banking.