First National Co. (NASDAQ:FXNC) CFO Buys $19,650.00 in Stock

First National Co. (NASDAQ:FXNC) CFO Brad E. Schwartz purchased 1,000 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was bought at an average cost of $19.65 per share, with a total value of $19,650.00. Following the completion of the acquisition, the chief financial officer now directly owns 4,000 shares of the company’s stock, valued at $78,600. This trade represents a 33.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

First National Stock Performance

NASDAQ FXNC opened at $19.70 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. First National Co. has a fifty-two week low of $14.75 and a fifty-two week high of $26.97. The stock’s fifty day moving average is $19.95 and its two-hundred day moving average is $22.65. The firm has a market capitalization of $177.04 million, a P/E ratio of 16.98 and a beta of 0.51.

First National Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.155 per share. The ex-dividend date is Friday, May 30th. This represents a $0.62 annualized dividend and a yield of 3.15%. First National’s dividend payout ratio (DPR) is 74.70%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FXNC. Barclays PLC purchased a new position in shares of First National during the fourth quarter worth $36,000. PL Capital Advisors LLC purchased a new position in First National in the fourth quarter worth approximately $78,000. Salzhauer Michael acquired a new position in shares of First National during the fourth quarter worth $202,000. Citadel Advisors LLC purchased a new position in shares of First National in the 4th quarter valued at about $261,000. Finally, Dimensional Fund Advisors LP increased its stake in First National by 20.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,041 shares of the company’s stock valued at $323,000 after purchasing an additional 2,398 shares during the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

Analyst Ratings Changes

Separately, Hovde Group lowered First National from an “outperform” rating to a “market perform” rating and set a $28.50 price objective on the stock. in a report on Tuesday, February 11th.

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.