First National (NASDAQ:FXNC) Posts Earnings Results, Beats Expectations By $0.19 EPS

First National (NASDAQ:FXNC) announced its quarterly earnings results on Thursday. The company reported $0.66 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

NASDAQ FXNC opened at $26.50 on Friday. The company has a 50-day moving average price of $24.32 and a 200-day moving average price of $20.95. First National has a 52 week low of $14.50 and a 52 week 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 capitalization of $237.71 million, a P/E ratio of 22.85 and a beta of 0.54.

First National Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Janney Montgomery Scott cut shares of 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.