First National (NASDAQ:FXNC) Trading Up 1.6% - Still a Buy?

Key Points

• First National Corp. (NASDAQ:FXNC) shares increased 1.6% to $23.38, with a trading volume decline of 50% compared to the average.
• The company reported $0.57 EPS for the last quarter, exceeding estimates by $0.08, along with a revenue of $22.44 million.
• First National declared a quarterly dividend of $0.155 per share, representing a yield of 2.7% and a payout ratio of 62%.

First National Corp. (NASDAQ:FXNC - Get Free Report)'s stock price traded up 1.6% during trading on Thursday . The company traded as high as $23.45 and last traded at $23.38. 7,340 shares traded hands during trading, a decline of 50% from the average session volume of 14,812 shares. The stock had previously closed at $23.02.

First National Trading Up 0.8%

The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $21.76 and a 200-day moving average of $21.13. The company has a market capitalization of $211.78 million, a price-to-earnings ratio of 23.56 and a beta of 0.54.

First National (NASDAQ:FXNC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.08. First National had a return on equity of 10.53% and a net margin of 7.29%.The firm had revenue of $22.44 million during the quarter, compared to analyst estimates of $22.30 million. As a group, equities research analysts anticipate that First National Corp. will post 2.25 earnings per share for the current fiscal year.

First National Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, August 29th. This represents a $0.62 annualized dividend and a dividend yield of 2.6%. First National's dividend payout ratio is currently 62.00%.

Hedge Funds Weigh In On First National

Hedge funds have recently made changes to their positions in the business. Barclays PLC purchased a new stake in First National during the 4th quarter worth $36,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of First National in the 2nd quarter valued at approximately $38,000. Bank of America Corp DE increased its stake 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 valued at $68,000 after buying an additional 3,409 shares during the period. JPMorgan Chase & Co. acquired a new position in shares of First National during the 2nd quarter worth $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in First National in the 2nd quarter valued at $83,000. Hedge funds and other 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.