Goldman Sachs Group Inc. Purchases 24,931 Shares of First National Corp. $FXNC

Goldman Sachs Group Inc. raised its position in shares of First National Corp. (NASDAQ:FXNC - Free Report) by 157.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,744 shares of the company's stock after acquiring an additional 24,931 shares during the period. Goldman Sachs Group Inc. owned approximately 0.45% of First National worth $915,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in shares of First National in the first quarter worth about $598,000. Northern Trust Corp bought a new position in shares of First National in the fourth quarter worth about $504,000. Millennium Management LLC bought a new position in shares of First National in the fourth quarter worth about $396,000. Empowered Funds LLC grew its holdings in shares of First National by 6.8% in the first quarter. Empowered Funds LLC now owns 15,089 shares of the company's stock worth $339,000 after purchasing an additional 959 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of First National in the fourth quarter worth about $261,000. 33.92% of the stock is currently owned by institutional investors.

First National Trading Down 0.8%

NASDAQ FXNC opened at $23.72 on Tuesday. The company's 50-day moving average price is $22.40 and its 200-day moving average price is $21.05. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The stock has a market cap of $213.24 million, a PE ratio of 23.72 and a beta of 0.54. First National Corp. has a 12 month low of $17.50 and a 12 month high of $26.97.

First National (NASDAQ:FXNC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.08. The firm had revenue of $22.44 million for the quarter, compared to analysts' expectations of $22.30 million. First National had a net margin of 7.29% and a return on equity of 10.53%. Equities research analysts forecast that First National Corp. will post 2.25 earnings per share for the current year.

First National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, August 29th. First National's dividend payout ratio is presently 62.00%.

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.

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