125,221 Shares in First National Co. (NASDAQ:FXNC) Purchased by Rhino Investment Partners Inc

Rhino Investment Partners Inc bought a new position in shares of First National Co. (NASDAQ:FXNC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 125,221 shares of the company's stock, valued at approximately $2,881,000. Rhino Investment Partners Inc owned about 1.40% of First National as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Fourthstone LLC boosted its holdings in First National by 42.9% in the fourth quarter. Fourthstone LLC now owns 896,591 shares of the company's stock worth $20,631,000 after purchasing an additional 269,124 shares during the period. Alliancebernstein L.P. bought a new position in shares of First National in the 4th quarter worth about $5,538,000. Geode Capital Management LLC boosted its holdings in shares of First National by 71.6% in the 4th quarter. Geode Capital Management LLC now owns 86,491 shares of the company's stock valued at $1,991,000 after buying an additional 36,090 shares during the period. PL Capital Advisors LLC bought a new stake in shares of First National during the 4th quarter valued at about $1,800,000. Finally, DAVENPORT & Co LLC acquired a new stake in First National during the fourth quarter worth about $678,000. Institutional investors and hedge funds own 33.92% of the company's stock.

First National Stock Performance

NASDAQ FXNC traded up $0.52 during trading hours on Friday, hitting $19.88. The company had a trading volume of 21,863 shares, compared to its average volume of 14,700. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a market cap of $178.66 million, a P/E ratio of 17.14 and a beta of 0.41. First National Co. has a fifty-two week low of $14.75 and a fifty-two week high of $26.97. The business has a fifty day simple moving average of $21.25 and a 200-day simple moving average of $22.93.

First National (NASDAQ:FXNC - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.66 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.19. First National had a net margin of 7.51% and a return on equity of 12.09%. Equities analysts predict that First National Co. will post 2.25 EPS for the current year.

First National Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a dividend of $0.155 per share. The ex-dividend date was Friday, February 28th. This represents a $0.62 annualized dividend and a dividend yield of 3.12%. First National's dividend payout ratio is presently 53.45%.

Wall Street Analysts Forecast Growth

Separately, Hovde Group downgraded First National from an "outperform" rating to a "market perform" rating and set a $28.50 target price for the company. in a research note on Tuesday, February 11th.

First National 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.