First National (NASDAQ:FXNC) Stock Price Up 0.6% - Should You Buy?

Key Points

• First National Corp. (NASDAQ: FXNC) experienced a 0.6% increase in stock price, trading at $22.44, with a notable increase in trading volume by 19% over the average session.
• The company reported an earnings per share (EPS) of $0.57 for the quarter, exceeding estimates, with revenues of $22.44 million also surpassing expectations.
• Institutional investors own 33.92% of First National's stock, with significant recent investments from firms like JPMorgan Chase & Co. and the New York State Common Retirement Fund.

First National Corp. (NASDAQ:FXNC - Get Free Report)'s share price traded up 0.6% during trading on Wednesday . The stock traded as high as $22.80 and last traded at $22.44. 24,264 shares changed hands during trading, an increase of 19% from the average session volume of 20,343 shares. The stock had previously closed at $22.31.

First National Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 0.89 and a quick ratio of 0.89. The business's 50 day moving average price is $20.51 and its 200 day moving average price is $21.38. The stock has a market capitalization of $199.80 million, a P/E ratio of 22.23 and a beta of 0.52.

First National (NASDAQ:FXNC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. First National had a net margin of 7.29% and a return on equity of 10.53%. The company had revenue of $22.44 million during the quarter, compared to analyst estimates of $22.30 million. Sell-side analysts forecast that First National Corp. will post 2.25 EPS for the current year.

First National Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.8%. First National's dividend payout ratio is currently 62.00%.

Hedge Funds Weigh In On First National

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC purchased a new position in shares of First National during the fourth quarter valued at $36,000. Police & Firemen s Retirement System of New Jersey bought a new stake in First National during the second quarter worth approximately $38,000. Bank of America Corp DE raised its holdings in First National by 5,013.2% in the 2nd quarter. Bank of America Corp DE now owns 3,477 shares of the company's stock worth $68,000 after acquiring an additional 3,409 shares during the period. JPMorgan Chase & Co. acquired a new stake in First National in the 2nd quarter valued at approximately $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of First National in the second quarter valued at approximately $83,000. 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.