PL Capital Advisors LLC Makes New $78,000 Investment in First National Co. (NASDAQ:FXNC)

PL Capital Advisors LLC bought a new stake in First National Co. (NASDAQ:FXNC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,400 shares of the company’s stock, valued at approximately $78,000. First National makes up approximately 0.0% of PL Capital Advisors LLC’s investment portfolio, making the stock its 29th biggest position.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in First National in the 3rd quarter valued at about $88,000. Salzhauer Michael purchased a new stake in shares of First National during the fourth quarter valued at approximately $202,000. 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 valued at $237,000 after purchasing an additional 670 shares during the last quarter. Founders Grove Wealth Partners LLC purchased a new stake in shares of First National during the 4th quarter valued at $252,000. Finally, De Lisle Partners LLP raised its stake in shares of First National by 41.3% during the 3rd quarter. De Lisle Partners LLP now owns 35,895 shares of the company’s stock worth $642,000 after purchasing an additional 10,500 shares during the period. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Analyst Ratings Changes

FXNC has been the subject of several research reports. Janney Montgomery Scott lowered shares of First National from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th. Hovde Group lowered shares of First National from an “outperform” rating to a “market perform” rating and set a $28.50 price target for the company. in a research note on Tuesday, February 11th.

First National Stock Down 0.5 %

FXNC stock opened at $24.72 on Wednesday. The stock has a 50-day simple moving average of $24.42 and a two-hundred day simple moving average of $21.73. First National Co. has a twelve month low of $14.50 and a twelve month high of $26.97. The firm has a market capitalization of $221.74 million, a PE ratio of 21.31 and a beta of 0.54. 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 (NASDAQ:FXNC) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts predict that First National Co. will post 2.25 EPS for the current fiscal year.

First National Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a $0.155 dividend. The ex-dividend date is Friday, February 28th. This represents a $0.62 annualized dividend and a dividend yield of 2.51%. First National’s payout ratio is currently 53.45%.

About First National

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.