Short Interest in First National Co. (NASDAQ:FXNC) Expands By 125.0%

First National Co. (NASDAQ:FXNC) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 15,300 shares, a growth of 125.0% from the May 31st total of 6,800 shares. Based on an average daily trading volume, of 4,400 shares, the days-to-cover ratio is currently 3.5 days. Currently, 0.3% of the shares of the stock are short sold.

First National Stock Up 0.1 %

FXNC opened at $15.19 on Friday. The firm has a 50 day moving average price of $15.29 and a 200 day moving average price of $17.62. The company has a market cap of $95.39 million, a PE ratio of 10.62 and a beta of 0.51. First National has a 1 year low of $14.50 and a 1 year high of $21.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.84 and a current ratio of 0.84.

First National (NASDAQ:FXNC) last posted its earnings results on Tuesday, April 30th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.08. The firm had revenue of $14.90 million during the quarter, compared to the consensus estimate of $13.70 million. First National had a net margin of 12.21% and a return on equity of 7.83%. Sell-side analysts expect that First National will post 1.85 earnings per share for the current year.

First National Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 24th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Thursday, May 23rd. First National’s dividend payout ratio (DPR) is 41.96%.

Wall Street Analysts Forecast Growth

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

Insider Transactions at First National

In other news, Director James R. Wilkins III bought 2,000 shares of First National stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $15.34 per share, for a total transaction of $30,680.00. Following the acquisition, the director now owns 294,743 shares in the company, valued at $4,521,357.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James R. Wilkins III acquired 3,478 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were acquired at an average cost of $15.48 per share, for a total transaction of $53,839.44. Following the acquisition, the director now directly owns 11,662 shares in the company, valued at approximately $180,527.76. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James R. Wilkins III acquired 2,000 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were bought at an average price of $15.34 per share, for a total transaction of $30,680.00. Following the completion of the acquisition, the director now owns 294,743 shares in the company, valued at $4,521,357.62. The disclosure for this purchase can be found here. Insiders bought 19,726 shares of company stock valued at $301,511 in the last 90 days. 16.48% of the stock is currently owned by insiders.

Institutional Trading of First National

An institutional investor recently raised its position in First National stock. Empowered Funds LLC raised its position in First National Co. (NASDAQ:FXNC) by 7.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,960 shares of the company’s stock after acquiring an additional 875 shares during the quarter. Empowered Funds LLC owned 0.19% of First National worth $194,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 33.92% of the company’s stock.

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.