First National Co. (NASDAQ:FXNC) to Issue Quarterly Dividend of $0.16

First National Co. (NASDAQ:FXNC) announced a quarterly dividend on Wednesday, February 12th, NASDAQ Dividends reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.155 per share on Friday, March 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date is Friday, February 28th.

First National has raised its dividend by an average of 8.0% per year over the last three years. First National has a dividend payout ratio of 25.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect First National to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.62 annual dividend with an expected future payout ratio of 25.8%.

First National Stock Up 0.2 %

NASDAQ FXNC traded up $0.04 on Wednesday, reaching $24.76. The company had a trading volume of 5,988 shares, compared to its average volume of 20,179. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. First National has a 52-week low of $14.50 and a 52-week high of $26.97. The stock has a market capitalization of $222.10 million, a P/E ratio of 21.35 and a beta of 0.54. The company’s fifty day moving average is $24.42 and its 200 day moving average is $21.73.

First National (NASDAQ:FXNC) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.19. First National had a net margin of 7.51% and a return on equity of 12.09%. Sell-side analysts anticipate that First National will post 2.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Hovde Group lowered shares of First National from an “outperform” rating to a “market perform” rating and set a $28.50 target price on the stock. in a report on Tuesday, February 11th. Janney Montgomery Scott downgraded First National from a “buy” rating to a “neutral” rating in a report on Wednesday, December 4th.

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.