First National (NASDAQ:FXNC) Trading Up 0.6% - Time to 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) shot up 0.6% on Wednesday . The company traded as high as $22.80 and last traded at $22.44. 24,264 shares traded 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 Trading Up 0.6%

The company has a market capitalization of $201.67 million, a P/E ratio of 22.44 and a beta of 0.52. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. The business's 50-day moving average price is $20.40 and its two-hundred day moving average price is $21.47.

First National (NASDAQ:FXNC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.49 by $0.08. The business had revenue of $22.44 million for the quarter, compared to the consensus estimate of $22.30 million. First National had a return on equity of 10.88% and a net margin of 7.29%. As a group, analysts forecast that First National Corp. will post 2.25 EPS for the current fiscal year.

Institutional Trading of First National

A number of large investors have recently bought and sold shares of FXNC. Barclays PLC acquired a new position in shares of First National during the 4th quarter worth about $36,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of First National in the second quarter valued at about $38,000. JPMorgan Chase & Co. bought a new position in First National during the 2nd quarter worth $72,000. New York State Common Retirement Fund acquired a new stake in shares of First National during the 2nd quarter worth approximately $103,000. Finally, Salzhauer Michael bought a new position in First National in the fourth quarter valued at about $202,000. 33.92% of the stock is owned by institutional investors.

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.

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