First Manhattan CO. LLC. Takes $817,000 Position in First National Co. (NASDAQ:FXNC)

First Manhattan CO. LLC. acquired a new stake in First National Co. (NASDAQ:FXNC - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 35,500 shares of the company's stock, valued at approximately $817,000. First Manhattan CO. LLC. owned about 0.40% of First National as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC purchased a new stake in shares of First National during the 4th quarter worth approximately $36,000. PL Capital Advisors LLC purchased a new stake in shares of First National during the 4th quarter worth approximately $78,000. Salzhauer Michael purchased a new stake in shares of First National during the 4th quarter worth approximately $202,000. Founders Grove Wealth Partners LLC purchased a new stake in shares of First National during the 4th quarter worth approximately $252,000. Finally, Citadel Advisors LLC purchased a new stake in shares of First National during the 4th quarter worth approximately $261,000. Hedge funds and other institutional investors own 33.92% of the company's stock.

Analysts Set New Price Targets

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

First National Stock Performance

First National stock traded down $0.11 during mid-day trading on Friday, reaching $20.87. The company's stock had a trading volume of 13,801 shares, compared to its average volume of 15,248. First National Co. has a 12-month low of $14.75 and a 12-month high of $26.97. The company has a market capitalization of $187.56 million, a P/E ratio of 17.99 and a beta of 0.47. 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 firm's fifty day moving average price is $20.59 and its two-hundred day moving average price is $22.90.

First National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid 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 2.97%. First National's dividend payout ratio is 53.45%.

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.