First National Co. (NASDAQ:FXNC) Short Interest Update

First National Co. (NASDAQ:FXNC) saw a significant growth in short interest in March. As of March 31st, there was short interest totalling 58,400 shares, a growth of 32.7% from the March 15th total of 44,000 shares. Based on an average daily trading volume, of 25,400 shares, the short-interest ratio is presently 2.3 days. Approximately 0.8% of the shares of the stock are sold short.

First National Price Performance

Shares of NASDAQ FXNC opened at $18.60 on Monday. The firm has a market cap of $167.16 million, a P/E ratio of 16.03 and a beta of 0.41. 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 has a 1 year low of $14.50 and a 1 year high of $26.97. The firm’s 50 day moving average price is $22.40 and its 200 day moving average price is $22.88.

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

First National Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a dividend of $0.155 per share. The ex-dividend date was Friday, February 28th. This represents a $0.62 annualized dividend and a dividend yield of 3.33%. First National’s payout ratio is currently 53.45%.

Wall Street Analyst Weigh In

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 research note on Tuesday, February 11th.

Institutional Investors Weigh In On First National

Several hedge funds have recently modified their holdings of the stock. Barclays PLC purchased a new position in First National in the fourth quarter valued at approximately $36,000. PL Capital Advisors LLC acquired a new stake in First National in the fourth quarter valued at $78,000. Salzhauer Michael acquired a new stake in shares of First National in the 4th quarter valued at about $202,000. Founders Grove Wealth Partners LLC acquired a new stake in First National during the fourth quarter valued at approximately $252,000. Finally, Citadel Advisors LLC bought a new position in First National during the fourth quarter worth $261,000. 33.92% of the stock is owned by institutional investors and hedge funds.

First National Company 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.