First National (NASDAQ:FXNC) Earns Outperform Rating from Analysts at Hovde Group

Hovde Group initiated coverage on shares of First National (NASDAQ:FXNC) in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage issued an outperform rating and a $22.00 price target on the stock.

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 report on Thursday, August 1st.

First National Trading Down 0.4 %

Shares of FXNC opened at $18.76 on Tuesday. First National has a 52-week low of $14.50 and a 52-week high of $21.75. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.12. The firm’s fifty day moving average is $17.50 and its two-hundred day moving average is $16.28. The stock has a market cap of $117.81 million, a PE ratio of 14.89 and a beta of 0.52.

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

First National Announces Dividend

The business also recently disclosed a None dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 20th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 20th. First National’s dividend payout ratio (DPR) is currently 47.62%.

Institutional Trading of First National

An institutional investor recently raised its position in First National stock. Empowered Funds LLC raised its position in First National Co. (NASDAQ:FXNC) by 7.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,960 shares of the company’s stock after acquiring an additional 875 shares during the quarter. Empowered Funds LLC owned approximately 0.19% of First National worth $194,000 as of its most recent SEC filing. Institutional investors and hedge funds own 33.92% of the company’s stock.

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.