Insider Buying: First National Co. (NASDAQ:FXNC) Director Purchases 886 Shares of Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III purchased 886 shares of the business’s stock in a transaction dated Tuesday, June 25th. The shares were bought at an average price of $14.95 per share, with a total value of $13,245.70. Following the purchase, the director now directly owns 298,429 shares of the company’s stock, valued at $4,461,513.55. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

First National Stock Performance

Shares of First National stock traded up $0.29 during trading hours on Wednesday, hitting $15.24. 2,288 shares of the company were exchanged, compared to its average volume of 4,643. The business has a 50-day moving average of $15.28 and a 200-day moving average of $17.70. First National Co. has a 1 year low of $14.50 and a 1 year high of $21.75. The stock has a market capitalization of $95.71 million, a price-to-earnings ratio of 10.62 and a beta of 0.51. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12.

First National (NASDAQ:FXNC) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. First National had a return on equity of 7.83% and a net margin of 12.21%. The firm had revenue of $14.90 million for the quarter, compared to analyst estimates of $13.70 million. As a group, analysts expect that First National Co. will post 1.85 EPS for the current fiscal year.

First National Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.94%. The ex-dividend date was Thursday, May 23rd. First National’s dividend payout ratio (DPR) is 41.96%.

Institutional Trading of First National

A hedge fund recently raised its stake in First National stock. Empowered Funds LLC grew its stake in First National Co. (NASDAQ:FXNC) by 7.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,960 shares of the company’s stock after acquiring an additional 875 shares during the quarter. Empowered Funds LLC owned about 0.19% of First National worth $194,000 at the end of the most recent quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, TheStreet cut First National from a “b-” rating to a “c+” rating in a research note 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.