First National Corp. Announces Quarterly Dividend of $0.17 (NASDAQ:FXNC)

First National Corp. (NASDAQ:FXNC – Get Free Report) declared a quarterly dividend on Wednesday, August 12th. Shareholders of record on Friday, August 28th will be paid a dividend of 0.17 per share on Friday, September 11th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, August 28th.

First National has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 10 years. First National has a payout ratio of 29.1% meaning its dividend is sufficiently covered by earnings. Analysts expect First National to earn $2.58 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 26.4%.

Get First National alerts:

First National Trading Down 1.2%

Shares of FXNC stock traded down $0.38 during mid-day trading on Friday, hitting $31.80. 5,815 shares of the company’s stock were exchanged, compared to its average volume of 65,517. The stock has a market cap of $287.43 million, a price-to-earnings ratio of 13.25 and a beta of 0.42. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. First National has a fifty-two week low of $21.58 and a fifty-two week high of $33.24. The stock has a 50-day simple moving average of $30.14 and a two-hundred day simple moving average of $28.35.

First National (NASDAQ:FXNC – Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. First National had a return on equity of 11.62% and a net margin of 18.43%.The firm had revenue of $23.93 million during the quarter, compared to analyst estimates of $23.45 million. Equities analysts expect that First National will post 2.44 EPS for the current fiscal year.

About First National

(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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.

See Also

• Five stocks we like better than First National
• Sony and TSMC’s $4.7 Billion Venture Is About More Than Camera Sensors
• Quantum Leaps: Debt-Free as AI Storage Demand Accelerates
• NVIDIA’s $500 Billion GPU Financing Deal Fuels Path Toward $270
• Sandisk’s Margins Look Like Software. Can They Last?

Receive News & Ratings for First National Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First National and related companies with MarketBeat.com's FREE daily email newsletter.