First National Co. (NASDAQ:FXNC) Plans Quarterly Dividend of $0.15

First National Co. (NASDAQ:FXNC) declared a quarterly dividend on Wednesday, August 14th, Zacks reports. Investors of record on Friday, August 30th will be given a dividend of 0.15 per share on Friday, September 13th. This represents a $0.60 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, August 30th.

First National has raised its dividend payment by an average of 10.9% per year over the last three years. First National has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First National to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 27.3%.

First National Stock Performance

Shares of NASDAQ FXNC traded up $0.43 during mid-day trading on Wednesday, hitting $17.71. The stock had a trading volume of 575 shares, compared to its average volume of 4,633. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.84. The company has a 50 day moving average of $16.29 and a two-hundred day moving average of $16.35. First National has a twelve month low of $14.50 and a twelve month high of $21.75. The firm has a market cap of $111.17 million, a PE ratio of 12.38 and a beta of 0.53.

First National (NASDAQ:FXNC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $14.18 million for the quarter, compared to the consensus estimate of $13.90 million. First National had a return on equity of 7.36% and a net margin of 10.40%. Research analysts predict that First National will post 1.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott raised shares of First National from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, August 1st.

Insider Transactions at First National

In related news, Director Kirtesh Patel purchased 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were purchased at an average cost of $15.56 per share, with a total value of $116,700.00. Following the purchase, the director now owns 29,611 shares of the company’s stock, valued at approximately $460,747.16. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other First National news, Director James R. Wilkins III acquired 1,700 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were purchased at an average cost of $15.48 per share, for a total transaction of $26,316.00. Following the completion of the acquisition, the director now owns 292,743 shares of the company’s stock, valued at approximately $4,531,661.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kirtesh Patel bought 7,500 shares of the business’s stock in a transaction on Wednesday, July 3rd. The stock was purchased at an average cost of $15.56 per share, for a total transaction of $116,700.00. Following the transaction, the director now owns 29,611 shares of the company’s stock, valued at $460,747.16. The disclosure for this purchase can be found here. Insiders have bought a total of 19,805 shares of company stock valued at $305,821 in the last ninety days. 16.48% of the stock is currently owned by corporate insiders.

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.