Insider Buying: First National Co. (NASDAQ:FXNC) Director Acquires 4,257 Shares of Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III bought 4,257 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were acquired at an average price of $15.01 per share, with a total value of $63,897.57. Following the transaction, the director now directly owns 283,034 shares of the company’s stock, valued at $4,248,340.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

First National Price Performance

FXNC traded up $0.35 during trading on Thursday, reaching $15.20. The company’s stock had a trading volume of 11,337 shares, compared to its average volume of 4,928. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.12. The firm has a fifty day simple moving average of $16.59 and a two-hundred day simple moving average of $18.63. First National Co. has a 1 year low of $13.55 and a 1 year high of $21.75. The company has a market cap of $95.46 million, a price-to-earnings ratio of 10.63 and a beta of 0.51.

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

First National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.95%. First National’s dividend payout ratio (DPR) is 41.96%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in First National stock. Commonwealth Equity Services LLC lifted its holdings in First National Co. (NASDAQ:FXNC) by 103.0% in the 3rd quarter, according to 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 approximately 0.58% of First National worth $639,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 33.92% of the company’s stock.

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.