First National (NASDAQ:FXNC) Stock Price Down 0.5% - Time to Sell?

Key Points

• Shares slipped 0.5% to $29.31 on Monday while trading volume surged ~94% to 141,015 shares, and the stock remains above its 50‑day and 200‑day moving averages ($27.25 and $25.47).
• Weiss Ratings upgraded First National from "hold (c+)" to "buy (b-)," and MarketBeat shows a consensus rating of "Buy."
• First National reported a Q1 beat (EPS $0.62 vs. $0.60; revenue $23.97M vs. $22.60M), trades at a P/E of 14.88, yields 2.3% annually, and the CFO recently purchased 1,000 shares.

First National Corp. (NASDAQ:FXNC - Get Free Report)'s share price was down 0.5% during trading on Monday . The company traded as low as $29.26 and last traded at $29.31. Approximately 141,015 shares changed hands during trading, an increase of 94% from the average daily volume of 72,638 shares. The stock had previously closed at $29.45.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised First National from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".

First National Trading Down 0.5%

The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.87. The business has a 50 day moving average of $27.25 and a 200 day moving average of $25.47. The firm has a market capitalization of $264.96 million, a price-to-earnings ratio of 14.88 and a beta of 0.50.

First National (NASDAQ:FXNC - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. First National had a return on equity of 10.82% and a net margin of 15.19%.The business had revenue of $23.97 million during the quarter, compared to analysts' expectations of $22.60 million. As a group, research analysts predict that First National Corp. will post 2.3 earnings per share for the current fiscal year.

First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Friday, February 27th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.3%. First National's payout ratio is 34.52%.

Insider Activity at First National

In other First National news, CFO Brad E. Schwartz bought 1,000 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was purchased at an average cost of $26.91 per share, with a total value of $26,910.00. Following the completion of the purchase, the chief financial officer owned 6,470 shares in the company, valued at approximately $174,107.70. The trade was a 18.28% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.22% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FXNC. Goldman Sachs Group Inc. grew its stake in First National by 157.7% in the first quarter. Goldman Sachs Group Inc. now owns 40,744 shares of the company's stock valued at $915,000 after acquiring an additional 24,931 shares during the period. Empowered Funds LLC grew its stake in First National by 6.8% in the first quarter. Empowered Funds LLC now owns 15,089 shares of the company's stock valued at $339,000 after acquiring an additional 959 shares during the period. Jane Street Group LLC acquired a new position in First National in the first quarter valued at about $598,000. Geode Capital Management LLC grew its stake in First National by 109.7% in the second quarter. Geode Capital Management LLC now owns 180,312 shares of the company's stock valued at $3,512,000 after acquiring an additional 94,314 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in First National in the second quarter valued at about $72,000. 33.92% of the stock is owned by institutional investors and hedge funds.

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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.

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