First National Corp. (NASDAQ:FXNC) Short Interest Up 19.1% in February

First National Corp. (NASDAQ:FXNC) was the recipient of a large increase in short interest in February. As of February 27th, there was short interest totaling 102,563 shares, an increase of 19.1% from the February 12th total of 86,094 shares. Based on an average daily trading volume, of 63,077 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.3% of the shares of the company are short sold. Currently, 1.3% of the shares of the company are short sold. Based on an average daily trading volume, of 63,077 shares, the days-to-cover ratio is presently 1.6 days.

Insider Activity at First National

In other First National news, CFO Brad E. Schwartz bought 1,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were purchased at an average price of $26.91 per share, for a total transaction of $26,910.00. Following the purchase, the chief financial officer directly owned 6,470 shares of the company’s stock, valued at approximately $174,107.70. This represents a 18.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.32% of the stock is currently owned by corporate insiders.

Institutional Trading of First National

Large investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of First National by 5.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 11,069 shares of the company’s stock valued at $279,000 after buying an additional 610 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in First National by 59.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock worth $41,000 after acquiring an additional 679 shares during the last quarter. Empowered Funds LLC increased its holdings in First National by 6.8% in the 1st quarter. Empowered Funds LLC now owns 15,089 shares of the company’s stock worth $339,000 after acquiring an additional 959 shares during the last quarter. Rhumbline Advisers raised its stake in First National by 9.5% in the 3rd quarter. Rhumbline Advisers now owns 11,197 shares of the company’s stock valued at $254,000 after acquiring an additional 974 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in First National by 2.5% in the 2nd quarter. Bridgeway Capital Management LLC now owns 47,038 shares of the company’s stock valued at $916,000 after acquiring an additional 1,149 shares during the period. 33.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

First National Stock Performance

NASDAQ FXNC traded up $0.37 during trading hours on Monday, reaching $26.51. 88,958 shares of the company were exchanged, compared to its average volume of 71,014. The stock has a market capitalization of $238.86 million, a P/E ratio of 13.46 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. First National has a 1 year low of $18.26 and a 1 year high of $28.89. The business’s 50 day simple moving average is $26.62 and its 200-day simple moving average is $24.74.

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

First National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a $0.17 dividend. The ex-dividend date was Friday, February 27th. This represents a $0.68 annualized dividend and a yield of 2.6%. First National’s dividend payout ratio is presently 34.52%.

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.