First National Co. (NASDAQ:FXNC) Short Interest Update

First National Co. (NASDAQ:FXNC - Get Free Report) was the recipient of a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 7,400 shares, a growth of 10.4% from the November 15th total of 6,700 shares. Based on an average daily trading volume, of 12,400 shares, the short-interest ratio is currently 0.6 days. Approximately 0.1% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

FXNC has been the topic of several analyst reports. Janney Montgomery Scott cut First National from a "buy" rating to a "neutral" rating in a research report on Wednesday, December 4th. Hovde Group began coverage on First National in a report on Tuesday, October 8th. They set an "outperform" rating and a $22.00 price target on the stock.

First National Trading Down 1.3 %

Shares of NASDAQ:FXNC traded down $0.33 during midday trading on Friday, reaching $25.35. The company had a trading volume of 15,031 shares, compared to its average volume of 6,939. The company has a fifty day simple moving average of $22.37 and a two-hundred day simple moving average of $18.58. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $227.39 million, a price-to-earnings ratio of 22.63 and a beta of 0.53. First National has a 1-year low of $14.50 and a 1-year high of $26.00.

First National (NASDAQ:FXNC - Get Free Report) last announced its earnings results on Friday, November 1st. The company reported $0.36 EPS for the quarter, hitting the consensus estimate of $0.36. First National had a net margin of 8.91% and a return on equity of 6.52%. The company had revenue of $20.65 million during the quarter, compared to analysts' expectations of $14.40 million. During the same period last year, the company posted $0.50 earnings per share. Research analysts predict that First National will post 1.86 earnings per share for the current year.

First National Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 2.45%. This is a boost from First National's previous quarterly dividend of $0.15. The ex-dividend date was Friday, November 29th. First National's payout ratio is presently 55.36%.

Institutional Trading of First National

A number of hedge funds have recently modified their holdings of the business. Empowered Funds LLC boosted its holdings in shares of First National by 5.2% during the third 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 period. Dimensional Fund Advisors LP lifted its position in First National by 13.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,882 shares of the company's stock worth $211,000 after buying an additional 1,595 shares in the last quarter. Fourthstone LLC boosted its stake in shares of First National by 0.3% during the 3rd quarter. Fourthstone LLC now owns 627,467 shares of the company's stock valued at $10,981,000 after buying an additional 1,814 shares during the period. Geode Capital Management LLC grew its holdings in shares of First National by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 50,401 shares of the company's stock valued at $882,000 after acquiring an additional 3,789 shares in the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new position in shares of First National during the 3rd quarter valued at $88,000. Hedge funds and other institutional investors own 33.92% 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.