First National (NASDAQ:FXNC) Shares Up 4.8% - Time to Buy?

First National Corp. (NASDAQ:FXNC - Get Free Report) traded up 4.8% on Tuesday . The company traded as high as $20.76 and last traded at $20.40. 51,108 shares traded hands during trading, an increase of 136% from the average session volume of 21,692 shares. The stock had previously closed at $19.47.

First National Stock Performance

The company has a market cap of $187.85 million, a P/E ratio of 25.17 and a beta of 0.49. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average price of $19.87 and a two-hundred day moving average price of $21.91.

First National Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.97%. First National's dividend payout ratio (DPR) is currently 74.70%.

Hedge Funds Weigh In On First National

A number of large investors have recently made changes to their positions in the company. Fourthstone LLC increased its stake in shares of First National by 42.9% during the fourth quarter. Fourthstone LLC now owns 896,591 shares of the company's stock worth $20,631,000 after purchasing an additional 269,124 shares during the period. Alliancebernstein L.P. acquired a new stake in First National during the fourth quarter worth approximately $5,538,000. Rhino Investment Partners Inc acquired a new stake in First National during the fourth quarter worth approximately $2,881,000. Geode Capital Management LLC grew its position in First National by 71.6% during the fourth quarter. Geode Capital Management LLC now owns 86,491 shares of the company's stock worth $1,991,000 after buying an additional 36,090 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in First National by 157.7% during the first quarter. Goldman Sachs Group Inc. now owns 40,744 shares of the company's stock worth $915,000 after buying an additional 24,931 shares in the last quarter. Institutional investors own 33.92% of the company's stock.

About First National

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.