First National (NASDAQ:FXNC) Releases Earnings Results

First National (NASDAQ:FXNC) announced its quarterly earnings data on Thursday. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.19, Zacks reports. First National had a net margin of 7.51% and a return on equity of 12.09%.

First National Price Performance

FXNC stock opened at $26.50 on Friday. The company has a market capitalization of $237.71 million, a PE ratio of 22.85 and a beta of 0.54. The company’s fifty day moving average price is $24.32 and its 200-day moving average price is $20.95. First National has a one year low of $14.50 and a one year high of $26.97. 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 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.62 annualized dividend and a dividend yield of 2.34%. This is a boost from First National’s previous quarterly dividend of $0.15. First National’s dividend payout ratio (DPR) is presently 53.45%.

Analysts Set New Price Targets

Separately, Janney Montgomery Scott cut First National from a “buy” rating to a “neutral” rating in a 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.