Grace & White Inc. NY Reduces Holdings in First National Co. (NASDAQ:FXNC)

Grace & White Inc. NY trimmed its stake in First National Co. (NASDAQ:FXNC) by 28.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,478 shares of the company’s stock after selling 4,109 shares during the period. Grace & White Inc. NY owned 0.17% of First National worth $228,000 as of its most recent SEC filing.

Separately, Commonwealth Equity Services LLC lifted its position in shares of First National by 103.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 36,282 shares of the company’s stock worth $639,000 after purchasing an additional 18,412 shares during the period. Hedge funds and other institutional investors own 33.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, TheStreet cut shares of First National from a “b-” rating to a “c+” rating in a research report on Monday, March 18th.

First National Stock Performance

Shares of First National stock remained flat at $14.94 during trading on Tuesday. 1,512 shares of the company traded hands, compared to its average volume of 5,040. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50 day moving average price is $17.15 and its two-hundred day moving average price is $18.80. The firm has a market capitalization of $93.82 million, a P/E ratio of 10.07 and a beta of 0.51. First National Co. has a 52 week low of $13.13 and a 52 week high of $21.75.

First National (NASDAQ:FXNC) last issued its quarterly earnings results on Thursday, February 1st. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.62). The business had revenue of $13.88 million during the quarter, compared to the consensus estimate of $13.60 million. First National had a return on equity of 8.50% and a net margin of 13.85%. As a group, analysts predict that First National Co. will post 1.79 EPS for the current year.

First National Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.15 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.60 annualized dividend and a dividend yield of 4.02%. First National’s payout ratio is 39.22%.

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.