First National Corp. (NASDAQ:FXNC) Raises Dividend to $0.19 Per Share

First National Corp. (NASDAQ:FXNC) announced a quarterly dividend on Thursday, November 12th. Shareholders of record on Friday, November 27th will be paid a dividend of $0.19 per share on Friday, December 11th. This represents a $0.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Friday, November 27th. This is a 11.8% increase from First National’s previous quarterly dividend of $0.17.

First National has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 10 years. First National has a payout ratio of 29.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First National to earn $2.72 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 25.0%.

First National Stock Performance

NASDAQ FXNC opened at $30.27 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $30.30 and its two-hundred day moving average is $29.03. First National has a 12-month low of $23.07 and a 12-month high of $33.24. The stock has a market capitalization of $273.64 million, a price-to-earnings ratio of 11.92 and a beta of 0.49.

First National (NASDAQ:FXNC) last issued its earnings results on Friday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.13. The business had revenue of $25.29 million during the quarter, compared to the consensus estimate of $24.27 million. First National had a return on equity of 12.21% and a net margin of 19.35%. Research analysts expect that First National will post 2.62 EPS for the current year.

First National Company Profile

First National Corporation is a bank holding company headquartered in Strasburg, Virginia. It operates First Bank, a community bank that provides personal and business banking services. Its offerings include checking and savings accounts, loans, mortgage lending, digital banking and services for businesses, such as cash management. The company serves communities in Virginia and North Carolina through its banking operations. First National traces its roots to 1907 and expanded its reach through the 2024 combination with Touchstone Bankshares, the parent company of Touchstone Bank.