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 the stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of $19.65 per share, with a total value of $19,650.00. Following the purchase, the chief financial officer now owns 4,000 shares of the company's stock, valued at $78,600. This trade represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First National Stock Up 0.8%

Shares of FXNC traded up $0.15 during midday trading on Friday, hitting $19.77. The company had a trading volume of 17,954 shares, compared to its average volume of 15,917. First National Co. has a 1 year low of $14.75 and a 1 year high of $26.97. The firm has a market capitalization of $177.67 million, a P/E ratio of 17.04 and a beta of 0.51. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The company's 50-day simple moving average is $20.00 and its 200-day simple moving average is $22.68.

First National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, May 30th. First National's dividend payout ratio (DPR) is presently 74.70%.

Institutional Investors Weigh In On First National

A number of large investors have recently modified their holdings of FXNC. DAVENPORT & Co LLC acquired a new position in shares of First National during the fourth quarter worth $678,000. Geode Capital Management LLC lifted its holdings in First National by 71.6% during the 4th 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 during the last quarter. Northern Trust Corp purchased a new stake in First National during the 4th quarter worth about $504,000. Rhino Investment Partners Inc acquired a new position in shares of First National during the 4th quarter worth about $2,881,000. Finally, Alliancebernstein L.P. purchased a new position in shares of First National in the 4th quarter valued at about $5,538,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Hovde Group downgraded First National from an "outperform" rating to a "market perform" rating and set a $28.50 price objective on the stock. in a 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.

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