First National Corp. (NASDAQ:FXNC) Sees Significant Increase in Short Interest

First National Corp. (NASDAQ:FXNC - Get Free Report) saw a significant growth in short interest in the month of May. As of May 31st, there was short interest totalling 84,700 shares, a growth of 26.0% from the May 15th total of 67,200 shares. Based on an average daily volume of 21,800 shares, the short-interest ratio is presently 3.9 days. Approximately 1.1% of the company's shares are short sold.

First National Stock Up 0.1%

Shares of NASDAQ FXNC traded up $0.01 during midday trading on Friday, hitting $18.65. The company's stock had a trading volume of 26,761 shares, compared to its average volume of 16,830. The business's fifty day simple moving average is $19.78 and its two-hundred day simple moving average is $22.29. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. First National has a 1 year low of $14.75 and a 1 year high of $26.97. The firm has a market capitalization of $167.66 million, a price-to-earnings ratio of 22.47 and a beta of 0.51.

First National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.155 per share. The ex-dividend date was Friday, May 30th. This represents a $0.62 dividend on an annualized basis and a yield of 3.32%. First National's dividend payout ratio (DPR) is presently 74.70%.

Hedge Funds Weigh In On First National

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

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.