James R. Wilkins III Purchases 886 Shares of First National Co. (NASDAQ:FXNC) Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III purchased 886 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The shares were bought at an average price of $14.95 per share, with a total value of $13,245.70. Following the purchase, the director now owns 298,429 shares in the company, valued at $4,461,513.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

First National Stock Performance

FXNC traded up $0.29 on Wednesday, hitting $15.24. The company’s stock had a trading volume of 2,288 shares, compared to its average volume of 4,643. The company’s 50 day simple moving average is $15.28 and its 200-day simple moving average is $17.70. The firm has a market cap of $95.71 million, a P/E ratio of 10.62 and a beta of 0.51. First National Co. has a 12 month low of $14.50 and a 12 month high of $21.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12.

First National (NASDAQ:FXNC) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.43 by $0.08. First National had a net margin of 12.21% and a return on equity of 7.83%. The company had revenue of $14.90 million during the quarter, compared to the consensus estimate of $13.70 million. Analysts forecast that First National Co. will post 1.85 EPS for the current year.

First National Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Thursday, May 23rd. First National’s payout ratio is 41.96%.

Institutional Inflows and Outflows

An institutional investor recently raised its position in First National stock. Cutler Capital Management LLC raised its position in First National Co. (NASDAQ:FXNC) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 202,745 shares of the company’s stock after purchasing an additional 1,034 shares during the period. First National accounts for 1.8% of Cutler Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Cutler Capital Management LLC owned about 3.24% of First National worth $4,410,000 at the end of the most recent quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

Analysts Set New Price Targets

Separately, TheStreet downgraded shares of First National from a “b-” rating to a “c+” rating in a report on Monday, March 18th.

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.