First National Co. (FXNC) To Go Ex-Dividend on September 20th

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

First National has raised its dividend payment 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. Equities research analysts expect First National to earn $2.20 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 27.3%.

First National Price Performance

First National stock opened at $18.25 on Friday. The stock has a market cap of $114.56 million, a price-to-earnings ratio of 12.76 and a beta of 0.52. The firm has a 50-day moving average of $17.05 and a two-hundred day moving average of $16.23. First National has a 1 year low of $14.50 and a 1 year high of $21.75. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.84 and a quick ratio of 0.84.

First National (NASDAQ:FXNC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $14.18 million during the quarter, compared to analyst estimates of $13.90 million. First National had a return on equity of 7.29% and a net margin of 10.40%. On average, research analysts forecast that First National will post 1.97 earnings per share for the current year.

Insider Activity

In related news, Director Kirtesh Patel bought 7,500 shares of the company’s stock in a transaction on Wednesday, July 3rd. The shares were acquired at an average price of $15.56 per share, with a total value of $116,700.00. Following the transaction, the director now owns 29,611 shares of the company’s stock, valued at $460,747.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders acquired 8,886 shares of company stock worth $137,446. 16.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Janney Montgomery Scott upgraded First National from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, August 1st.

First National Company Profile

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.