Northern Trust Corp Takes Position in First National Co. (NASDAQ:FXNC)

Northern Trust Corp bought a new stake in First National Co. (NASDAQ:FXNC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 21,923 shares of the company's stock, valued at approximately $504,000. Northern Trust Corp owned about 0.24% of First National as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC purchased a new position in shares of First National during the 4th quarter worth about $36,000. PL Capital Advisors LLC purchased a new position in shares of First National during the 4th quarter valued at approximately $78,000. Salzhauer Michael bought a new stake in shares of First National in the 4th quarter worth about $202,000. Dimensional Fund Advisors LP increased its holdings in First National by 20.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,041 shares of the company's stock valued at $323,000 after buying an additional 2,398 shares during the last quarter. Finally, Empowered Funds LLC raised its position in shares of First National by 4.4% during the 4th quarter. Empowered Funds LLC now owns 14,130 shares of the company's stock valued at $325,000 after acquiring an additional 600 shares in the last quarter. 33.92% of the stock is owned by hedge funds and other institutional investors.

First National Stock Performance

FXNC traded up $0.18 during trading hours on Wednesday, hitting $19.76. The company's stock had a trading volume of 1,685 shares, compared to its average volume of 22,568. The company has a 50-day simple moving average of $20.11 and a 200 day simple moving average of $22.72. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $177.57 million, a PE ratio of 17.03 and a beta of 0.51. First National Co. has a fifty-two week low of $14.75 and a fifty-two week high of $26.97.

First National Announces Dividend

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

Analyst Ratings Changes

Separately, Hovde Group lowered First National from an "outperform" rating to a "market perform" rating and set a $28.50 price objective for the company. in a research report 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.