First National Corp. (NASDAQ:FXNC) Short Interest Up 19.1% in February

First National Corp. (NASDAQ:FXNC) was the recipient of a significant increase in short interest in February. As of February 27th, there was short interest totaling 102,563 shares, an increase of 19.1% from the February 12th total of 86,094 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 63,077 shares, the short-interest ratio is currently 1.6 days. Based on an average daily trading volume, of 63,077 shares, the short-interest ratio is currently 1.6 days. Currently, 1.3% of the shares of the stock are sold short.

First National Trading Down 1.6%

Shares of FXNC stock traded down $0.42 during trading on Tuesday, hitting $26.09. 70,405 shares of the stock traded hands, compared to its average volume of 75,462. The firm has a market capitalization of $235.07 million, a P/E ratio of 13.24 and a beta of 0.51. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s fifty day moving average price is $26.65 and its 200-day moving average price is $24.76. First National has a 52-week low of $18.26 and a 52-week high of $28.89.

First National (NASDAQ:FXNC) last issued its quarterly earnings data on Thursday, January 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $23.97 million during the quarter, compared to analyst estimates of $22.60 million. First National had a return on equity of 11.01% and a net margin of 15.19%. As a group, research analysts forecast that First National will post 2.25 earnings per share for the current fiscal year.

First National Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 13th. Shareholders of record on Friday, February 27th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, February 27th. This represents a $0.68 dividend on an annualized basis and a yield of 2.6%. First National’s dividend payout ratio is presently 34.52%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of First National in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Insider Buying and Selling at First National

In other First National news, CFO Brad E. Schwartz purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were purchased at an average cost of $26.91 per share, for a total transaction of $26,910.00. Following the completion of the transaction, the chief financial officer owned 6,470 shares of the company’s stock, valued at $174,107.70. The trade was a 18.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 14.32% of the company’s stock.

Hedge Funds Weigh In On First National

Hedge funds and other institutional investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new position in First National in the second quarter valued at $38,000. BNP Paribas Financial Markets increased its holdings in First National by 59.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,821 shares of the company’s stock worth $41,000 after purchasing an additional 679 shares during the period. Bank of America Corp DE raised its position in First National by 5,013.2% in the 2nd quarter. Bank of America Corp DE now owns 3,477 shares of the company’s stock valued at $68,000 after purchasing an additional 3,409 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of First National in the 2nd quarter valued at about $72,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of First National during the second quarter worth about $83,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.