First National Co. (NASDAQ:FXNC – Get Rating) was the recipient of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 10,200 shares, a growth of 183.3% from the August 31st total of 3,600 shares. Based on an average daily volume of 7,200 shares, the short-interest ratio is currently 1.4 days.
Institutional Trading of First National
Several institutional investors and hedge funds have recently made changes to their positions in the business. Fourthstone LLC raised its position in shares of First National by 11.4% during the 1st quarter. Fourthstone LLC now owns 573,177 shares of the company's stock valued at $12,037,000 after acquiring an additional 58,532 shares during the last quarter. Cutler Capital Management LLC raised its position in shares of First National by 1.4% during the 1st quarter. Cutler Capital Management LLC now owns 180,500 shares of the company's stock valued at $3,791,000 after acquiring an additional 2,500 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of First National by 40.5% during the 1st quarter. Bank of New York Mellon Corp now owns 17,801 shares of the company's stock valued at $374,000 after acquiring an additional 5,130 shares during the last quarter. Finally, State Street Corp bought a new stake in shares of First National during the 2nd quarter valued at $191,000. Institutional investors own 40.01% of the company's stock.
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First National Price Performance
FXNC stock remained flat at $15.27 during trading on Friday. 756 shares of the company traded hands, compared to its average volume of 15,334. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.77 and a current ratio of 0.77. The company has a 50 day simple moving average of $17.13 and a 200-day simple moving average of $18.90. First National has a 1 year low of $14.98 and a 1 year high of $23.96. The company has a market cap of $95.44 million, a PE ratio of 7.87 and a beta of 0.52.
First National (NASDAQ:FXNC – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.61 earnings per share for the quarter. First National had a net
margin of 22.10% and a return on equity of 11.02%. The firm had revenue of $14.07 million during the quarter.
First National Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 26th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Thursday, August 25th. First National's payout ratio is 28.87%.
About First National
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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.
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