First National (NASDAQ:FXNC) Posts Earnings Results, Beats Estimates By $0.13 EPS

First National (NASDAQ:FXNC) released its quarterly earnings data on Friday. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.13, FiscalAI reports. The company had revenue of $25.29 million for the quarter, compared to analysts’ expectations of $24.27 million. First National had a net margin of 18.43% and a return on equity of 11.50%.

First National Stock Up 0.2%

Shares of First National stock traded up $0.06 on Friday, hitting $29.91. The company had a trading volume of 3,072 shares, compared to its average volume of 56,073. First National has a 1 year low of $22.09 and a 1 year high of $33.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a 50 day moving average of $30.44 and a 200-day moving average of $29.59. The stock has a market capitalization of $270.41 million, a price-to-earnings ratio of 12.48 and a beta of 0.47.

First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. First National’s dividend payout ratio is 28.33%.

Analysts Set New Price Targets

Several brokerages have issued reports on FXNC. Weiss Ratings reiterated a “buy (b)” rating on shares of First National in a report on Friday, October 9th. Raymond James Financial assumed coverage on shares of First National in a research report on Thursday, June 25th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, First National presently has a consensus rating of “Moderate Buy”.

About First National

First National Corporation (NASDAQ: FXNC) is a bank holding company headquartered in Strasburg, Virginia. The company operates through its principal subsidiary, First Bank, a community banking institution serving individuals, families, businesses and organizations in Virginia.

First Bank provides a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, consumer and residential real estate lending, commercial loans, mortgage services and online and mobile banking.