Insider Buying: First National (NASDAQ:FXNC) CFO Purchases $26,910.00 in Stock

First National Corp. (NASDAQ:FXNC) CFO Brad Schwartz purchased 1,000 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was acquired at an average price of $26.91 per share, with a total value of $26,910.00. Following the purchase, the chief financial officer 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 purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

First National Stock Down 1.3%

First National stock opened at $26.34 on Friday. The firm has a market capitalization of $237.32 million, a P/E ratio of 13.37 and a beta of 0.51. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.17. First National Corp. has a twelve month low of $18.26 and a twelve month high of $28.89. The stock’s fifty day simple moving average is $26.46 and its 200-day simple moving average is $24.57.

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

First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, February 27th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.6%. The ex-dividend date is Friday, February 27th. First National’s dividend payout ratio (DPR) is presently 34.52%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of First National in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, First National currently has an average rating of “Hold”.

Hedge Funds Weigh In On First National

A number of institutional investors and hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in First National during the 2nd quarter worth about $403,000. De Lisle Partners LLP increased its holdings in shares of First National by 92.3% in the 2nd quarter. De Lisle Partners LLP now owns 138,113 shares of the company’s stock valued at $2,689,000 after acquiring an additional 66,289 shares during the last quarter. New York State Common Retirement Fund purchased a new position in shares of First National in the 2nd quarter valued at about $103,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of First National during the 2nd quarter worth about $83,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of First National during the 2nd quarter worth about $72,000. Institutional investors and hedge funds 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. 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.