Janney Montgomery Scott upgraded shares of First National (NASDAQ:FXNC – Free Report) from a neutral rating to a buy rating in a research note published on Thursday, Marketbeat.com reports. The firm currently has $21.00 price target on the stock.
First National Stock Performance
Shares of FXNC traded down $0.17 on Thursday, reaching $17.45. The company’s stock had a trading volume of 1,039 shares, compared to its average volume of 4,859. First National has a 12-month low of $14.50 and a 12-month high of $21.75. The stock has a market capitalization of $109.53 million, a P/E ratio of 12.32 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $15.78 and its two-hundred day simple moving average is $16.76.
First National Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 24th were paid a $0.15 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.60 annualized dividend and a dividend yield of 3.44%. First National’s dividend payout ratio (DPR) is 41.96%.
Insider Buying and Selling at First National
Hedge Funds Weigh In On First National
An institutional investor recently raised its position in First National stock. Empowered Funds LLC lifted its position in First National Co. (NASDAQ:FXNC – Free Report) by 7.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,960 shares of the company’s stock after acquiring an additional 875 shares during the quarter. Empowered Funds LLC owned 0.19% of First National worth $194,000 at the end of the most recent reporting period. 33.92% of the stock is currently owned by institutional investors and hedge funds.
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.
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