First National Co. (FXNC) to Issue Quarterly Dividend of $0.16 on March 14th

First National Co. (NASDAQ:FXNC) declared 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 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, February 28th.

First National has increased its dividend payment by an average of 8.0% per year over the last three years. First National has a payout ratio of 25.3% meaning 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 %

Shares of FXNC stock traded up $0.04 during trading on Wednesday, hitting $24.76. 5,988 shares of the company were exchanged, compared to its average volume of 20,179. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market capitalization of $222.10 million, a price-to-earnings ratio of 21.35 and a beta of 0.54. The business’s 50-day simple moving average is $24.42 and its 200 day simple moving average is $21.73. First National has a twelve month low of $14.50 and a twelve month high of $26.97.

First National (NASDAQ:FXNC) last posted its earnings results on Thursday, February 6th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.19. First National had a net margin of 7.51% and a return on equity of 12.09%. As a group, analysts forecast that First National will post 2.25 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.