First National Co. Announces Quarterly Dividend of $0.16 (NASDAQ:FXNC)

First National Co. (NASDAQ:FXNC - Get Free Report) declared a quarterly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Investors of record on Friday, February 28th will be given a dividend of 0.155 per share on Friday, March 14th. This represents a $0.62 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, February 28th.

First National has increased its dividend by an average of 8.0% annually over the last three years. First National has a payout ratio of 25.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First National to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 25.8%.

First National Stock Down 0.1 %

Shares of NASDAQ FXNC traded down $0.02 during trading hours on Friday, hitting $24.53. 44,667 shares of the stock were exchanged, compared to its average volume of 21,235. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The company has a market cap of $220.03 million, a PE ratio of 21.15 and a beta of 0.54. The firm has a fifty day moving average price of $24.45 and a 200-day moving average price of $21.86. First National has a 12 month low of $14.50 and a 12 month high of $26.97.

First National (NASDAQ:FXNC - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.47 by $0.19. First National had a net margin of 7.51% and a return on equity of 12.09%. On average, sell-side analysts expect that First National will post 2.25 EPS for the current year.

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Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Hovde Group lowered shares of First National from an "outperform" rating to a "market perform" rating and set a $28.50 price target on the stock. in a research note on Tuesday, February 11th. Janney Montgomery Scott lowered shares of First National from a "buy" rating to a "neutral" rating in a research note on Wednesday, December 4th.

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.