First National Corp. (NASDAQ:FXNC) Announces Dividend Increase – $0.19 Per Share

First National Corp. (NASDAQ:FXNC) declared a quarterly dividend on Thursday, November 12th. Stockholders of record on Friday, November 27th will be given a dividend of $0.19 per share on Friday, December 11th. This represents a $0.76 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, November 27th. This is a 11.8% increase from First National’s previous quarterly dividend of $0.17.

First National has increased its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. First National has a payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect First National to earn $2.72 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 25.0%.

First National Price Performance

Shares of NASDAQ FXNC opened at $30.27 on Friday. The company has a fifty day moving average price of $30.30 and a 200 day moving average price of $29.03. The firm has a market cap of $273.64 million, a PE ratio of 11.92 and a beta of 0.49. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. First National has a 1-year low of $23.07 and a 1-year high of $33.24.

First National (NASDAQ:FXNC) last posted its quarterly earnings data on Friday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.13. First National had a net margin of 19.35% and a return on equity of 12.21%. The company had revenue of $25.29 million for the quarter, compared to the consensus estimate of $24.27 million. Research analysts predict that First National will post 2.62 earnings per share for the current fiscal year.

About First National

First National Corporation is a bank holding company headquartered in Strasburg, Virginia. It operates First Bank, a community bank that provides personal and business banking services. Its offerings include checking and savings accounts, loans, mortgage lending, digital banking and services for businesses, such as cash management. The company serves communities in Virginia and North Carolina through its banking operations. First National traces its roots to 1907 and expanded its reach through the 2024 combination with Touchstone Bankshares, the parent company of Touchstone Bank.