James R. Wilkins III Acquires 4,257 Shares of First National Co. (NASDAQ:FXNC) Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III bought 4,257 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were bought at an average price of $15.01 per share, for a total transaction of $63,897.57. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website.

First National Stock Up 2.4 %

Shares of First National stock traded up $0.35 on Thursday, hitting $15.20. 11,337 shares of the company’s stock traded hands, 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 stock has a market cap 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. The firm’s 50-day moving average is $16.59 and its 200 day moving average is $18.63.

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

First National Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.15 dividend. 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%.

Hedge Funds Weigh In On First National

An institutional investor recently raised its position in First National stock. Cutler Capital Management LLC raised its position in shares of First National Co. (NASDAQ:FXNC) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,745 shares of the company’s stock after purchasing an additional 1,034 shares during the period. First National accounts for about 1.8% of Cutler Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Cutler Capital Management LLC owned approximately 3.24% of First National worth $4,410,000 at the end of the most recent reporting period. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded shares of First National from a “b-” rating to a “c+” rating in a research note on Monday, March 18th.

First National Company Profile

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.