Founders Grove Wealth Partners LLC Purchases Shares of 10,941 First National Co. (NASDAQ:FXNC)

Founders Grove Wealth Partners LLC purchased a new stake in shares of First National Co. (NASDAQ:FXNC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 10,941 shares of the company’s stock, valued at approximately $252,000.

Other hedge funds have also added to or reduced their stakes in the company. De Lisle Partners LLP lifted its holdings in shares of First National by 41.3% during the third quarter. De Lisle Partners LLP now owns 35,895 shares of the company’s stock worth $642,000 after buying an additional 10,500 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in shares of First National during the third quarter worth $88,000. Geode Capital Management LLC lifted its holdings in shares of First National by 8.1% during the third quarter. Geode Capital Management LLC now owns 50,401 shares of the company’s stock worth $882,000 after buying an additional 3,789 shares in the last quarter. Fourthstone LLC lifted its holdings in shares of First National by 0.3% during the third quarter. Fourthstone LLC now owns 627,467 shares of the company’s stock worth $10,981,000 after buying an additional 1,814 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of First National by 13.0% during the second quarter. Dimensional Fund Advisors LP now owns 13,882 shares of the company’s stock worth $211,000 after buying an additional 1,595 shares in the last quarter. Institutional investors and hedge funds own 33.92% of the company’s stock.

First National Stock Up 0.1 %

FXNC stock opened at $22.62 on Wednesday. The company has a market cap of $202.90 million, a PE ratio of 20.20 and a beta of 0.54. The business has a 50-day simple moving average of $23.87 and a 200 day simple moving average of $19.88. First National Co. has a 52 week low of $14.50 and a 52 week high of $26.00. 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 (NASDAQ:FXNC) last released its earnings results on Friday, November 1st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. First National had a return on equity of 6.52% and a net margin of 8.91%. The firm had revenue of $20.65 million for the quarter, compared to analysts’ expectations of $14.40 million. During the same quarter in the previous year, the business posted $0.50 earnings per share. Sell-side analysts anticipate that First National Co. will post 1.86 EPS for the current fiscal year.

First National Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, November 29th. This is a boost from First National’s previous quarterly dividend of $0.15. First National’s payout ratio is currently 55.36%.

Wall Street Analyst Weigh In

FXNC has been the subject of a number of analyst reports. Janney Montgomery Scott downgraded First National from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Hovde Group initiated coverage on First National in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $22.00 price target for the company.

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.