First National (NASDAQ:FXNC) Announces Earnings Results, Beats Estimates By $0.19 EPS

First National (NASDAQ:FXNC - Get Free Report) posted its earnings results on Thursday. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.19, Zacks reports. First National had a return on equity of 12.09% and a net margin of 7.51%.

First National Stock Down 0.6 %

Shares of FXNC stock traded down $0.17 during trading on Monday, reaching $26.33. The company's stock had a trading volume of 28,116 shares, compared to its average volume of 18,780. 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 has a one year low of $14.50 and a one year high of $26.97. The business has a fifty day moving average price of $24.32 and a 200-day moving average price of $21.01. The company has a market cap of $236.18 million, a price-to-earnings ratio of 22.70 and a beta of 0.54.

First National Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.155 dividend. The ex-dividend date was Friday, November 29th. This is an increase from First National's previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.35%. First National's dividend payout ratio (DPR) is 53.45%.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott cut shares of First National from a "buy" rating to a "neutral" rating in a research report 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.