De Lisle Partners LLP Has $642,000 Stake in First National Co. (NASDAQ:FXNC)

De Lisle Partners LLP boosted its holdings in First National Co. (NASDAQ:FXNC) by 41.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 35,895 shares of the company’s stock after buying an additional 10,500 shares during the period. De Lisle Partners LLP owned approximately 0.57% of First National worth $642,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FXNC. Empowered Funds LLC lifted its stake in shares of First National by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 13,530 shares of the company’s stock valued at $237,000 after purchasing an additional 670 shares during the period. Dimensional Fund Advisors LP increased its holdings in First National by 13.0% in the second quarter. Dimensional Fund Advisors LP now owns 13,882 shares of the company’s stock valued at $211,000 after purchasing an additional 1,595 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new position in First National in the third quarter valued at about $88,000. 33.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FXNC shares. Janney Montgomery Scott upgraded First National from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Thursday, August 1st. Hovde Group assumed coverage on shares of First National in a report on Tuesday, October 8th. They set an “outperform” rating and a $22.00 price objective for the company.

First National Stock Up 1.8 %

NASDAQ:FXNC opened at $24.78 on Friday. The stock has a 50-day moving average price of $20.76 and a two-hundred day moving average price of $17.81. First National Co. has a 1 year low of $14.50 and a 1 year high of $24.92. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.11. The stock has a market cap of $222.28 million, a price-to-earnings ratio of 22.13 and a beta of 0.49.

First National (NASDAQ:FXNC) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. The business had revenue of $20.65 million during the quarter, compared to the consensus estimate of $14.40 million. First National had a return on equity of 6.52% and a net margin of 8.91%. During the same period last year, the company earned $0.50 earnings per share. As a group, equities analysts expect that First National Co. will post 1.86 earnings per share for the current year.

First National Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from First National’s previous quarterly dividend of $0.15. First National’s dividend payout ratio is presently 55.36%.

First National 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.