First National Co. (NASDAQ:FXNC) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in shares of First National Co. (NASDAQ:FXNC - Free Report) by 71.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,491 shares of the company's stock after acquiring an additional 36,090 shares during the quarter. Geode Capital Management LLC owned approximately 0.96% of First National worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. PL Capital Advisors LLC purchased a new position in shares of First National during the 4th quarter worth $78,000. Salzhauer Michael acquired a new stake in First National in the 4th quarter worth about $202,000. Founders Grove Wealth Partners LLC purchased a new position in shares of First National during the 4th quarter worth about $252,000. Empowered Funds LLC grew its stake in shares of First National by 4.4% during the 4th quarter. Empowered Funds LLC now owns 14,130 shares of the company's stock valued at $325,000 after buying an additional 600 shares during the period. Finally, DAVENPORT & Co LLC acquired a new stake in First National during the 4th quarter worth approximately $678,000. 33.92% of the stock is owned by institutional investors and hedge funds.

First National Stock Down 0.1 %

Shares of NASDAQ FXNC traded down $0.01 during trading on Monday, reaching $19.87. 1,367 shares of the stock were exchanged, compared to its average volume of 14,653. The business's 50-day moving average price is $21.25 and its 200 day moving average price is $22.95. The company has a market capitalization of $178.54 million, a price-to-earnings ratio of 17.23 and a beta of 0.47. First National Co. has a twelve month low of $14.75 and a twelve month high of $26.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11.

First National (NASDAQ:FXNC - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.19. First National had a return on equity of 12.09% and a net margin of 7.51%. As a group, equities analysts forecast that First National Co. will post 2.25 EPS for the current fiscal year.

First National Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 3.12%. The ex-dividend date was Friday, February 28th. First National's dividend payout ratio (DPR) is currently 53.45%.

Analyst Ratings Changes

Separately, Hovde Group lowered shares of First National from an "outperform" rating to a "market perform" rating and set a $28.50 price objective for the company. in a research report on Tuesday, February 11th.

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.