Insider Buying: First National Co. (NASDAQ:FXNC) Director Purchases $26,316.00 in Stock

First National Co. (NASDAQ:FXNC) Director James R. Wilkins III bought 1,700 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were purchased at an average price of $15.48 per share, for a total transaction of $26,316.00. Following the purchase, the director now owns 292,743 shares in the company, valued at approximately $4,531,661.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First National Stock Performance

NASDAQ FXNC opened at $14.95 on Friday. 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 Co. has a twelve month low of $14.50 and a twelve month high of $21.75. The business has a 50-day moving average price of $15.32 and a 200-day moving average price of $17.90. The firm has a market cap of $93.89 million, a price-to-earnings ratio of 10.45 and a beta of 0.51.

First National (NASDAQ:FXNC) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.08. The business had revenue of $14.90 million during the quarter, compared to the consensus estimate of $13.70 million. First National had a return on equity of 7.83% and a net margin of 12.21%. As a group, equities research analysts predict that First National Co. will post 1.85 EPS for the current fiscal year.

First National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 24th were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, May 23rd. This represents a $0.60 annualized dividend and a yield of 4.01%. First National’s payout ratio is 41.96%.

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.

Institutional Trading of First National

An institutional investor recently raised its position in First National stock. Cutler Capital Management LLC lifted its position in First National Co. (NASDAQ:FXNC) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,745 shares of the company’s stock after purchasing an additional 1,034 shares during the quarter. First National comprises about 1.8% of Cutler Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Cutler Capital Management LLC owned about 3.24% of First National worth $4,410,000 at the end of the most recent reporting period. Institutional investors own 33.92% of the company’s stock.

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.