First National Co. (NASDAQ:FXNC) Declares Quarterly Dividend of $0.15

First National Co. (NASDAQ:FXNCGet Free Report) announced a quarterly dividend on Wednesday, May 8th, Zacks reports. Stockholders of record on Friday, May 24th will be given a dividend of 0.15 per share on Friday, June 7th. This represents a $0.60 annualized dividend and a dividend yield of 3.86%. The ex-dividend date is Thursday, May 23rd.

First National has raised its dividend payment by an average of 10.9% per year over the last three years and has increased its dividend annually for the last 9 consecutive years. First National has a dividend payout ratio of 27.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First National to earn $2.18 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 27.5%.

First National Price Performance

First National stock opened at $15.55 on Wednesday. First National has a 52-week low of $14.50 and a 52-week high of $21.75. The firm has a fifty day moving average of $15.84 and a 200-day moving average of $18.30. The firm has a market capitalization of $97.65 million, a P/E ratio of 10.87 and a beta of 0.51. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12.

First National (NASDAQ:FXNCGet Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.08. The business had revenue of $14.90 million during the quarter, compared to analyst estimates of $13.70 million. First National had a net margin of 12.21% and a return on equity of 7.83%. As a group, analysts predict that First National will post 1.85 EPS for the current year.

Insider Buying and Selling

In other news, Director James R. Wilkins III purchased 4,257 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were acquired at an average price of $15.01 per share, for a total transaction of $63,897.57. Following the completion of the acquisition, the director now directly owns 283,034 shares of the company’s stock, valued at $4,248,340.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 7,575 shares of company stock worth $114,510 in the last ninety days. 17.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, TheStreet downgraded shares of First National from a “b-” rating to a “c+” rating in a research report on Monday, March 18th.

Read Our Latest Research Report on FXNC

First National Company Profile

(Get Free Report)

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.

See Also

Dividend History for First National (NASDAQ:FXNC)

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