First National Co. (NASDAQ:FXNC) Director Purchases $63,897.57 in Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III acquired 4,257 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average cost of $15.01 per share, with a total value of $63,897.57. Following the completion of the acquisition, the director now directly owns 283,034 shares in the company, valued at approximately $4,248,340.34. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

First National Stock Performance

Shares of FXNC opened at $15.20 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day moving average price of $16.59 and a two-hundred day moving average price of $18.63. The firm has a market capitalization of $95.46 million, a P/E ratio of 10.63 and a beta of 0.51. First National Co. has a 52 week low of $13.55 and a 52 week high of $21.75.

First National (NASDAQ:FXNC) last released its earnings results on Thursday, February 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.62). The business had revenue of $13.88 million during the quarter, compared to the consensus estimate of $13.60 million. First National had a net margin of 12.21% and a return on equity of 7.90%. Equities analysts forecast that First National Co. will post 1.79 earnings per share for the current fiscal year.

First National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend was Thursday, February 29th. First National’s dividend payout ratio is presently 41.96%.

Hedge Funds Weigh In On First National

An institutional investor recently raised its position in First National stock. Commonwealth Equity Services LLC increased its holdings in First National Co. (NASDAQ:FXNC) by 103.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,282 shares of the company’s stock after acquiring an additional 18,412 shares during the period. Commonwealth Equity Services LLC owned about 0.58% of First National worth $639,000 at the end of the most recent quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet lowered First National from a “b-” rating to a “c+” rating in a report on Monday, March 18th.

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.