Siena Capital Partners GP LLC Lowers Stock Position in First National Corp. $FXNC

Siena Capital Partners GP LLC cut its position in shares of First National Corp. (NASDAQ:FXNC) by 12.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 276,043 shares of the company’s stock after selling 40,300 shares during the period. First National accounts for 1.9% of Siena Capital Partners GP LLC’s holdings, making the stock its 12th biggest position. Siena Capital Partners GP LLC owned about 3.06% of First National worth $6,967,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its holdings in First National by 59.5% during the third quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock worth $41,000 after buying an additional 679 shares in the last quarter. Bank of America Corp DE boosted its holdings in First National by 5,013.2% during the second quarter. Bank of America Corp DE now owns 3,477 shares of the company’s stock worth $68,000 after buying an additional 3,409 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in First National during the second quarter worth $72,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in First National during the second quarter worth $83,000. Finally, Los Angeles Capital Management LLC purchased a new stake in First National during the fourth quarter worth $92,000. 33.92% of the stock is owned by hedge funds and other institutional investors.

First National Stock Performance

FXNC opened at $29.06 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.09. The company has a market cap of $262.70 million, a price-to-earnings ratio of 12.47 and a beta of 0.45. First National Corp. has a 52-week low of $18.31 and a 52-week high of $29.85. The firm’s fifty day simple moving average is $27.81 and its two-hundred day simple moving average is $26.60.

First National (NASDAQ:FXNC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.02. The business had revenue of $22.50 million for the quarter, compared to the consensus estimate of $23.30 million. First National had a net margin of 17.94% and a return on equity of 11.48%. Equities analysts anticipate that First National Corp. will post 2.35 earnings per share for the current fiscal year.

First National Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Friday, May 29th. First National’s dividend payout ratio (DPR) is presently 29.18%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FXNC. Weiss Ratings raised shares of First National from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 27th. Wall Street Zen raised shares of First National from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, First National has an average rating of “Buy”.

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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.