Salzhauer Michael Buys New Position in First National Co. (NASDAQ:FXNC)

Salzhauer Michael purchased a new position in First National Co. (NASDAQ:FXNC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,776 shares of the company’s stock, valued at approximately $202,000. Salzhauer Michael owned approximately 0.10% of First National at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in shares of First National by 4.4% in the 4th quarter. Empowered Funds LLC now owns 14,130 shares of the company’s stock worth $325,000 after acquiring an additional 600 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in shares of First National in the 4th quarter valued at $678,000. Founders Grove Wealth Partners LLC purchased a new position in First National in the 4th quarter worth about $252,000. Geode Capital Management LLC raised its holdings in First National by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 50,401 shares of the company’s stock worth $882,000 after buying an additional 3,789 shares during the period. Finally, Fourthstone LLC lifted its stake in First National by 0.3% during the third 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 in the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.

First National Stock Performance

Shares of First National stock opened at $26.50 on Monday. The stock has a market cap of $237.71 million, a PE ratio of 22.85 and a beta of 0.54. First National Co. has a 12 month low of $14.50 and a 12 month high of $26.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $24.32 and a 200-day simple moving average of $20.98.

First National (NASDAQ:FXNC) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping 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, sell-side analysts anticipate that First National Co. will post 2.25 EPS for the current fiscal year.

First National Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.34%. This is a positive change from First National’s previous quarterly dividend of $0.15. First National’s dividend payout ratio (DPR) is 53.45%.

Analyst Ratings Changes

Separately, Janney Montgomery Scott downgraded shares of First National from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th.

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.