Brad E. Schwartz Acquires 1,000 Shares of First National Co. (NASDAQ:FXNC) Stock

First National Co. (NASDAQ:FXNC - Get Free Report) CFO Brad E. Schwartz bought 1,000 shares of First National stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average cost of $19.65 per share, with a total value of $19,650.00. Following the acquisition, the chief financial officer now owns 4,000 shares of the company's stock, valued at $78,600. The trade was a 33.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

First National Price Performance

Shares of NASDAQ FXNC traded down $0.19 during trading on Monday, hitting $19.51. The company had a trading volume of 12,963 shares, compared to its average volume of 16,083. The stock has a fifty day simple moving average of $19.95 and a two-hundred day simple moving average of $22.65. First National Co. has a fifty-two week low of $14.75 and a fifty-two week high of $26.97. The firm has a market capitalization of $175.34 million, a price-to-earnings ratio of 16.82 and a beta of 0.51. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

First National Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, May 30th. First National's dividend payout ratio is currently 74.70%.

Hedge Funds Weigh In On First National

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fourthstone LLC lifted its stake in shares of 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 buying an additional 269,124 shares in the last quarter. Alliancebernstein L.P. purchased a new position in shares of First National in the fourth quarter worth about $5,538,000. Rhino Investment Partners Inc purchased a new position in shares of First National in the fourth quarter worth about $2,881,000. Geode Capital Management LLC lifted its stake in shares of First National by 71.6% in the fourth quarter. Geode Capital Management LLC now owns 86,491 shares of the company's stock worth $1,991,000 after buying an additional 36,090 shares in the last quarter. Finally, PL Capital Advisors LLC purchased a new position in First National during the fourth quarter worth about $1,800,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Hovde Group lowered shares of First National from an "outperform" rating to a "market perform" rating and set a $28.50 price target on the stock. in a research report on Tuesday, February 11th.

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.