Brad E. Schwartz Acquires 1,000 Shares of First National Co. (NASDAQ:FXNC) Stock

First National Co. (NASDAQ:FXNC) CFO Brad E. Schwartz acquired 1,000 shares of the stock in a transaction dated Thursday, June 5th. The shares were bought at an average cost of $19.65 per share, for a total transaction of $19,650.00. Following the completion of the transaction, the chief financial officer now owns 4,000 shares in the company, valued at approximately $78,600. This represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

First National Trading Up 0.4%

Shares of FXNC opened at $19.70 on Friday. First National Co. has a fifty-two week low of $14.75 and a fifty-two week high of $26.97. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The company’s fifty day moving average is $19.95 and its 200 day moving average is $22.65. The stock has a market capitalization of $177.04 million, a PE ratio of 16.98 and a beta of 0.51.

First National Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.155 per share. The ex-dividend date is Friday, May 30th. This represents a $0.62 annualized dividend and a yield of 3.15%. First National’s payout ratio is presently 74.70%.

Institutional Trading of First National

Institutional investors have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC purchased a new position in First National in the 4th quarter worth about $678,000. Geode Capital Management LLC boosted its holdings in shares of First National by 71.6% in the 4th quarter. Geode Capital Management LLC now owns 86,491 shares of the company’s stock valued at $1,991,000 after buying an additional 36,090 shares in the last quarter. Northern Trust Corp acquired a new stake in First National in the fourth quarter valued at approximately $504,000. Rhino Investment Partners Inc acquired a new position in First National during the 4th quarter valued at about $2,881,000. Finally, Alliancebernstein L.P. purchased a new position in shares of First National in the 4th quarter valued at approximately $5,538,000. Institutional investors own 33.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Hovde Group downgraded shares of First National from an “outperform” rating to a “market perform” rating and set a $28.50 target price for the company. in a report on Tuesday, February 11th.

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.