First National Co. (NASDAQ:FXNC) announces no dividend of $0.16

First National Co. (NASDAQ:FXNC – Get Your Free Report ) declared a None dividend on Thursday, September 19th, Zacks reports. Stockholders of record on Friday, September 20th will be given a dividend of 0.16 per share on Friday, September 27th. The ex-dividend date is Friday, September 20.

First National has increased its dividend by an average of 10.9% annually over the last three years. First National has a dividend payout ratio of 27.3%, indicating that its dividend is sufficiently covered by earnings. Research analysts expect First National to earn $2.20 per share next year, which means the company should be able to continue to cover its $0.60 annual dividend with an estimated future payout ratio of 27. 3%

First national price performance

FXNC opened at $18.25 on Friday. The company has a market cap of $114.56 million, a price-to-earnings ratio of 12.76 and a beta of 0.52. The company has a current ratio of 0.84, a quick ratio of 0.84, and a debt-to-equity ratio of 0.12. First National has a 12 month low of $14.50 and a 12 month high of $21.75. The company’s fifty-day simple moving average is $17.05, and its 200-day simple moving average is $16.23.

First National (NASDAQ:FXNC – Get Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $14.18 million during the quarter, compared to analyst estimates of $13.90 million. First National had a net margin of 10.40% and a return on equity of 7.29%. On average, equities research analysts anticipate that First National will post 1.97 earnings per share for the current fiscal year.

Insider trading at First National

In related news, Director Kirtesh Patel purchased 7,500 shares of the business’s stock in a transaction dated Wednesday, July 3rd. The stock was bought at an average price of $15.56 per share, for a total transaction of $116,700.00. Following the completion of the acquisition, the director now directly owns 29,611 shares of the company’s stock, valued at $460,747.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Over the last three months, insiders bought 8,886 shares of company stock worth $137,446. Corporate insiders own 16.48% of the company’s shares.

The Wall Street analyst weighs in

Separately, Janney Montgomery Scott raised shares of First National from a “neutral” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, August 1st.

Get our latest analysis on FXNC

About First National

(Get a free report)

First National Corporation operates as the bank holding company for First Bank which provides various commercial banking services to small and medium-sized businesses, individuals, properties, local government 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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