First National (NASDAQ:FXNC) Rating Increased to Hold at Wall Street Zen

First National (NASDAQ:FXNC) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings upgraded shares of First National from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy”.

First National Stock Down 0.9%

NASDAQ:FXNC opened at $27.80 on Friday. The company’s 50-day simple moving average is $27.62 and its 200-day simple moving average is $26.43. The stock has a market capitalization of $251.31 million, a P/E ratio of 11.93 and a beta of 0.44. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. First National has a fifty-two week low of $18.31 and a fifty-two week high of $29.85.

First National (NASDAQ:FXNC) last released its earnings results on Thursday, April 30th. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. First National had a net margin of 17.94% and a return on equity of 11.48%. The company had revenue of $22.50 million for the quarter, compared to the consensus estimate of $23.30 million. On average, equities analysts anticipate that First National will post 2.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brad E. Schwartz purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was bought at an average price of $26.91 per share, with a total value of $26,910.00. Following the acquisition, the chief financial officer owned 6,470 shares in the company, valued at $174,107.70. The trade was a 18.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.22% of the company’s stock.

Institutional Investors Weigh In On First National

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets grew its holdings in shares of First National by 59.5% during the third quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock worth $41,000 after buying an additional 679 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of First National by 5,013.2% during the second quarter. Bank of America Corp DE now owns 3,477 shares of the company’s stock worth $68,000 after buying an additional 3,409 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of First National during the fourth quarter worth $92,000. JPMorgan Chase & Co. purchased a new stake in shares of First National during the second quarter worth $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of First National during the second quarter worth $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. 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.