First National (NASDAQ:FXNC) Stock Rating Lowered by Hovde Group

First National (NASDAQ:FXNC) was downgraded by research analysts at Hovde Group from an “outperform” rating to a “market perform” rating in a report issued on Tuesday, Marketbeat.com reports. They presently have a $28.50 price target on the stock. Hovde Group’s price objective indicates a potential upside of 9.20% from the company’s previous close.

Separately, Janney Montgomery Scott downgraded First National from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 4th.

First National Stock Down 0.8 %

Shares of FXNC stock opened at $26.10 on Tuesday. First National has a 12 month low of $14.50 and a 12 month high of $26.97. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.11. The firm has a market cap of $234.12 million, a PE ratio of 22.50 and a beta of 0.54. The stock has a 50 day moving average of $24.37 and a 200-day moving average of $21.15.

First National (NASDAQ:FXNC) last released its earnings results on Thursday, February 6th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.47 by $0.19. First National had a net margin of 7.51% and a return on equity of 12.09%. On average, equities analysts predict that First National will post 2.25 EPS for the current year.

Institutional Investors Weigh In On First National

Several institutional investors and hedge funds have recently bought and sold shares of the business. PL Capital Advisors LLC acquired a new stake in shares of First National during the 4th quarter valued at about $78,000. Brown Brothers Harriman & Co. bought a new position in First National during the third quarter worth about $88,000. Salzhauer Michael acquired a new stake in First National during the fourth quarter valued at approximately $202,000. Founders Grove Wealth Partners LLC bought a new stake in shares of First National in the 4th quarter valued at approximately $252,000. Finally, Empowered Funds LLC raised its holdings in shares of First National by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 13,530 shares of the company’s stock worth $237,000 after buying an additional 670 shares in the last quarter. Institutional investors own 33.92% of the company’s stock.

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.