Brad Schwartz Buys 1,000 Shares of First National (NASDAQ:FXNC) Stock

First National Corp. (NASDAQ:FXNC) CFO Brad Schwartz bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was purchased at an average price of $26.91 per share, with a total value of $26,910.00. Following the completion of the purchase, the chief financial officer directly owned 6,470 shares of the company’s stock, valued at $174,107.70. This represents a 18.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

First National Stock Performance

First National stock traded up $0.17 on Wednesday, hitting $26.80. The company’s stock had a trading volume of 109,643 shares, compared to its average volume of 54,535. First National Corp. has a one year low of $18.26 and a one year high of $28.89. The firm has a market cap of $241.47 million, a P/E ratio of 13.60 and a beta of 0.51. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average price of $26.40 and a 200-day moving average price of $24.52.

First National (NASDAQ:FXNC) last issued its earnings results on Thursday, January 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $23.97 million for the quarter, compared to analyst estimates of $22.60 million. First National had a net margin of 15.19% and a return on equity of 11.01%. On average, equities analysts anticipate that First National Corp. will post 2.25 earnings per share for the current year.

First National Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 27th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, February 27th. First National’s dividend payout ratio is 34.52%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of First National in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, First National currently has an average rating of “Hold”.

Hedge Funds Weigh In On First National

Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets increased its holdings in First National by 59.5% in the third quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock valued at $41,000 after purchasing an additional 679 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in First National in the second quarter worth $38,000. Bank of America Corp DE grew its holdings in shares of First National by 5,013.2% in the 2nd quarter. Bank of America Corp DE now owns 3,477 shares of the company’s stock valued at $68,000 after buying an additional 3,409 shares during the period. Los Angeles Capital Management LLC acquired a new stake in First National during the 4th quarter worth $92,000. Finally, JPMorgan Chase & Co. acquired a new position in First National in the second quarter valued at about $72,000. 33.92% of the stock is owned by institutional investors.

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. 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.