First National (NASDAQ:FXNC) Stock Price Down 0.2% – Time to Sell?

First National Corp. (NASDAQ:FXNC)’s share price dropped 0.2% during mid-day trading on Monday . The stock traded as low as $25.50 and last traded at $25.96. Approximately 20,805 shares changed hands during trading, a decline of 12% from the average daily volume of 23,642 shares. The stock had previously closed at $26.00.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First National in a research note on Monday, December 29th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.50.

First National Stock Performance

The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.17. The company has a 50 day simple moving average of $25.13 and a 200-day simple moving average of $23.43. The stock has a market capitalization of $233.90 million, a price-to-earnings ratio of 20.60 and a beta of 0.49.

First National (NASDAQ:FXNC) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. The company had revenue of $22.80 million during the quarter, compared to the consensus estimate of $22.70 million. First National had a net margin of 9.53% and a return on equity of 11.34%. As a group, equities research analysts expect that First National Corp. will post 2.25 EPS for the current fiscal year.

First National Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.6%. This is an increase from First National’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Friday, November 28th. First National’s payout ratio is presently 53.97%.

Hedge Funds Weigh In On First National

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in shares of First National by 109.7% in the 2nd quarter. Geode Capital Management LLC now owns 180,312 shares of the company’s stock valued at $3,512,000 after buying an additional 94,314 shares during the period. De Lisle Partners LLP grew its stake in First National by 92.3% in the second quarter. De Lisle Partners LLP now owns 138,113 shares of the company’s stock valued at $2,689,000 after acquiring an additional 66,289 shares during the period. Bridgeway Capital Management LLC increased its holdings in shares of First National by 3.3% during the third quarter. Bridgeway Capital Management LLC now owns 48,577 shares of the company’s stock valued at $1,102,000 after acquiring an additional 1,539 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of First National by 157.7% during the first quarter. Goldman Sachs Group Inc. now owns 40,744 shares of the company’s stock worth $915,000 after purchasing an additional 24,931 shares during the period. Finally, Marshall Wace LLP raised its position in shares of First National by 50.8% during the second quarter. Marshall Wace LLP now owns 31,699 shares of the company’s stock worth $617,000 after purchasing an additional 10,685 shares during the period. 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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.