PL Capital Advisors LLC Purchases New Shares in First National Co. (NASDAQ:FXNC)

PL Capital Advisors LLC bought a new stake in First National Co. (NASDAQ:FXNC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 78,234 shares of the company's stock, valued at approximately $1,800,000. First National comprises about 0.0% of PL Capital Advisors LLC's holdings, making the stock its 28th biggest holding. PL Capital Advisors LLC owned approximately 0.87% of First National as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FXNC. Brown Brothers Harriman & Co. acquired a new position in shares of First National during the 3rd quarter worth approximately $88,000. Salzhauer Michael acquired a new position in shares of First National during the 4th quarter worth approximately $202,000. Founders Grove Wealth Partners LLC acquired a new position in shares of First National during the 4th quarter worth approximately $252,000. Empowered Funds LLC increased its position in shares of First National by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 13,530 shares of the company's stock worth $237,000 after purchasing an additional 670 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new position in shares of First National during the 4th quarter worth approximately $678,000. Institutional investors and hedge funds own 33.92% of the company's stock.

Analysts Set New Price Targets

FXNC has been the topic of several recent analyst reports. Janney Montgomery Scott lowered First National from a "buy" rating to a "neutral" rating in a research report on Wednesday, December 4th. Hovde Group lowered First National from an "outperform" rating to a "market perform" rating and set a $28.50 price target on the stock. in a research report on Tuesday, February 11th.

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First National Stock Performance

Shares of NASDAQ FXNC traded down $0.02 during midday trading on Friday, hitting $24.53. 44,667 shares of the company's 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. First National Co. has a 12 month low of $14.50 and a 12 month high of $26.97. The company's 50 day moving average price is $24.45 and its 200 day moving average price is $21.82. The firm has a market capitalization of $220.03 million, a PE ratio of 21.15 and a beta of 0.54.

First National (NASDAQ:FXNC - Get Free Report) last issued its earnings results 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 return on equity of 12.09% and a net margin of 7.51%. As a group, analysts predict that First National Co. will post 2.25 earnings per share for the current fiscal year.

First National Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Friday, February 28th will be paid a $0.155 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.62 annualized dividend and a yield of 2.53%. First National's dividend payout ratio (DPR) is presently 53.45%.

First National 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.