First National Co. (FXNC) To Go Ex-Dividend on November 29th

First National Co. (NASDAQ:FXNC) declared a quarterly dividend on Wednesday, November 13th,Wall Street Journal reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.155 per share on Friday, December 13th. This represents a $0.62 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from First National’s previous quarterly dividend of $0.15.

First National has increased its dividend payment by an average of 10.9% annually over the last three years. First National has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect First National to earn $2.25 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 27.6%.

First National Stock Performance

Shares of NASDAQ:FXNC traded up $0.03 during trading on Wednesday, hitting $24.38. 5,481 shares of the stock traded hands, compared to its average volume of 6,250. The company has a fifty day moving average price of $20.47 and a two-hundred day moving average price of $17.71. First National has a 52-week low of $14.50 and a 52-week high of $24.59. The company has a market cap of $218.69 million, a price-to-earnings ratio of 21.74 and a beta of 0.49. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

First National (NASDAQ:FXNC) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. First National had a net margin of 8.91% and a return on equity of 6.52%. The business had revenue of $20.65 million during the quarter, compared to the consensus estimate of $14.40 million. During the same quarter in the prior year, the firm posted $0.50 earnings per share. As a group, equities analysts predict that First National will post 1.86 EPS for the current year.

Analyst Upgrades and Downgrades

FXNC has been the topic of several research analyst reports. Hovde Group began coverage on First National in a report on Tuesday, October 8th. They issued an “outperform” rating and a $22.00 price objective on the stock. Janney Montgomery Scott raised shares of First National from a “neutral” rating to a “buy” rating and set a $21.00 price target for the company in a report on Thursday, August 1st.

About First National

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.