First National Co. (NASDAQ:FXNC) Announces $0.16 None Dividend

First National Co. (NASDAQ:FXNC - Get Free Report) announced a None dividend on Thursday, September 19th, Zacks reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.16 per share on Friday, September 27th. The ex-dividend date is Friday, September 20th.

First National has increased its dividend payment by an average of 10.9% annually over the last three years. First National has a payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First National to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 27.3%.

First National Stock Up 3.7 %

NASDAQ FXNC traded up $0.65 during mid-day trading on Friday, reaching $18.25. 14,624 shares of the company's stock traded hands, compared to its average volume of 4,564. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. First National has a 1-year low of $14.50 and a 1-year high of $21.75. The company has a fifty day simple moving average of $17.05 and a 200-day simple moving average of $16.22. The company has a market cap of $114.56 million, a price-to-earnings ratio of 12.76 and a beta of 0.52.

First National (NASDAQ:FXNC - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.44 by $0.04. The business had revenue of $14.18 million during the quarter, compared to the consensus estimate of $13.90 million. First National had a net margin of 10.40% and a return on equity of 7.29%. As a group, equities research analysts expect that First National will post 1.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott raised shares of First National from a "neutral" rating to a "buy" rating and set a $21.00 target price for the company in a research report on Thursday, August 1st.

Insiders Place Their Bets

In other news, Director Kirtesh Patel purchased 7,500 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was acquired at an average cost of $15.56 per share, for a total transaction of $116,700.00. Following the acquisition, the director now owns 29,611 shares of the company's stock, valued at $460,747.16. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have bought a total of 8,886 shares of company stock valued at $137,446 in the last quarter. Insiders own 16.48% 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.