Grace & White Inc. NY Decreases Stock Holdings in First National Co. (NASDAQ:FXNC)

Grace & White Inc. NY decreased its holdings in shares of First National Co. (NASDAQ:FXNC) by 28.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,478 shares of the company’s stock after selling 4,109 shares during the period. Grace & White Inc. NY’s holdings in First National were worth $228,000 at the end of the most recent reporting period.

Separately, Commonwealth Equity Services LLC lifted its position in shares of First National by 103.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 36,282 shares of the company’s stock valued at $639,000 after buying an additional 18,412 shares in the last quarter. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

First National Price Performance

Shares of FXNC remained flat at $14.94 during midday trading on Tuesday. The company’s stock had a trading volume of 1,512 shares, compared to its average volume of 5,040. First National Co. has a twelve month low of $13.13 and a twelve month high of $21.75. The company has a market capitalization of $93.82 million, a PE ratio of 10.07 and a beta of 0.51. The business has a fifty day simple moving average of $17.15 and a 200 day simple moving average of $18.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.81 and a current ratio of 0.81.

First National (NASDAQ:FXNC) last issued its earnings results on Thursday, February 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.62). First National had a return on equity of 8.50% and a net margin of 13.85%. The company had revenue of $13.88 million during the quarter, compared to analyst estimates of $13.60 million. As a group, sell-side analysts anticipate that First National Co. will post 1.79 earnings per share for the current fiscal year.

First National Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Thursday, February 29th. First National’s payout ratio is presently 39.22%.

Wall Street Analyst Weigh In

Separately, TheStreet lowered First National from a “b-” rating to a “c+” rating in a report on Monday, March 18th.

About First National

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.