First National (NASDAQ:FXNC) Receives New Coverage from Analysts at Hovde Group

by · The Markets Daily

Analysts at Hovde Group initiated coverage on shares of First National (NASDAQ:FXNC – Get Free Report) in a research report issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $22.00 price target on the stock. Hovde Group’s price target suggests a potential upside of 16.22% from the company’s previous close.

Separately, Janney Montgomery Scott raised shares of First National from a “neutral” rating to a “buy” rating and set a $21.00 target price on the stock in a research note on Thursday, August 1st.

Read Our Latest Report on FXNC

First National Stock Down 0.1 %

Shares of FXNC stock opened at $18.93 on Tuesday. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.12. First National has a twelve month low of $14.50 and a twelve month high of $21.75. The stock has a 50 day moving average of $17.43 and a 200 day moving average of $16.24. The stock has a market cap of $118.82 million, a P/E ratio of 13.24 and a beta of 0.52.

First National (NASDAQ:FXNC – Get Free Report) last posted its earnings results on Wednesday, July 31st. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. First National had a net margin of 10.40% and a return on equity of 7.29%. The firm had revenue of $14.18 million during the quarter, compared to analysts’ expectations of $13.90 million. As a group, sell-side analysts expect that First National will post 1.97 EPS for the current year.

Institutional Investors Weigh In On First National

An institutional investor recently raised its position in First National stock. Empowered Funds LLC grew its stake in First National Co. (NASDAQ:FXNC – Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,960 shares of the company’s stock after purchasing an additional 875 shares during the quarter. Empowered Funds LLC owned approximately 0.19% of First National worth $194,000 as of its most recent SEC filing. 33.92% of the stock is owned by institutional investors.

First National Company Profile

(Get Free Report)

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.

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