Brown Brothers Harriman & Co. Takes $88,000 Position in First National Co. (NASDAQ:FXNC)

Brown Brothers Harriman & Co. purchased a new position in shares of First National Co. (NASDAQ:FXNC) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $88,000. Brown Brothers Harriman & Co. owned about 0.08% of First National at the end of the most recent reporting period.

Separately, Dimensional Fund Advisors LP grew 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 purchasing an additional 1,595 shares during the last quarter. 33.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FXNC has been the subject of a number of research analyst reports. Hovde Group began coverage on First National in a report on Tuesday, October 8th. They issued an “outperform” rating and a $22.00 price target for the company. Janney Montgomery Scott raised shares of First National from a “neutral” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Thursday, August 1st.

First National Stock Up 1.8 %

NASDAQ FXNC opened at $24.78 on Friday. 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 Co. has a 52 week low of $14.50 and a 52 week high of $24.92. The stock has a market capitalization of $222.28 million, a P/E ratio of 22.13 and a beta of 0.49. The stock has a fifty day moving average of $20.76 and a 200-day moving average of $17.81.

First National (NASDAQ:FXNC) last announced its quarterly earnings data on Friday, November 1st. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $20.65 million during the quarter, compared to analysts’ expectations of $14.40 million. First National had a return on equity of 6.52% and a net margin of 8.91%. During the same period in the previous year, the business posted $0.50 EPS. On average, equities research analysts forecast that First National Co. will post 1.86 EPS for the current year.

First National Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.155 dividend. The ex-dividend date is Friday, November 29th. This is a boost from First National’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 2.50%. First National’s dividend payout ratio (DPR) is presently 55.36%.

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.