Significant Rise in Short Interest for First National Co. (NASDAQ:FXNC)

First National Co. (NASDAQ:FXNC) experienced a notable increase in short interest during December. By December 31st, the short interest reached a total of 25,300 shares, marking a remarkable rise of 251.4% compared to the December 15th total of 7,200 shares. This means that about 0.3% of the company's shares are currently sold short. Given the average daily trading volume of 18,100 shares, the short-interest ratio stands at approximately 1.4 days.

Current Stock Performance

On Monday, shares of First National traded down $0.04, or 0.2%, reaching a price of $22.60. A total of 4,218 shares changed hands, which is lower than the average volume of 10,074 shares. Over the past year, First National stock has hit a low of $14.50 and a high of $26.00. The company's market cap is recorded at $202.72 million, with a price-to-earnings ratio of 20.18 and a beta of 0.54. The 50-day moving average for the stock is $23.82, while the 200-day moving average is $19.77. The business reports a debt-to-equity ratio of 0.11, with both a quick ratio and a current ratio of 0.85.

Recent Financial Results

First National last announced its quarterly earnings on November 1st. The company reported earnings of $0.36 per share for the quarter, which matched analysts' expectations. The return on equity was noted at 6.52% with a net margin of 8.91%. First National generated revenue amounting to $20.65 million during the quarter, surpassing the analysts' estimates of $14.40 million. In the same quarter of the previous year, the company recorded earnings of $0.50 per share. Looking forward, analysts predict that First National will achieve earnings of 1.86 per share for the current financial year.

Dividend Increase Announcement

In a recent development, the company declared a quarterly dividend that was distributed on December 13th. Shareholders who were on record as of November 29th received a dividend of $0.155, showing an increase from the previous quarterly dividend of $0.15. The ex-dividend date was also November 29th. This latest dividend signifies an annualized dividend of $0.62, resulting in a dividend yield of 2.74%. The current dividend payout ratio stands at 55.36%.

Analyst Ratings

Institutional Investor Activity

Recently, hedge funds and institutional investors adjusted their positions in First National. Empowered Funds LLC increased its stake by 5.2% during the third quarter, now holding 13,530 shares, valued at $237,000 after acquiring an additional 670 shares. Similarly, Dimensional Fund Advisors LP raised their holdings by 13.0% during the second quarter, now owning 13,882 shares worth $211,000 after purchasing another 1,595 shares. Fourthstone LLC grew its position by 0.3% in the third quarter, currently owning 627,467 shares valued at around $10.98 million after acquiring an additional 1,814 shares. Additionally, Geode Capital Management LLC boosted its stake by 8.1%, owning 50,401 shares worth approximately $882,000 after adding 3,789 shares. Finally, Brown Brothers Harriman & Co. also acquired a new stake in First National, estimated at $88,000. In total, institutional investors control roughly 33.92% of First National shares.

Company Overview

First National Corporation serves as the bank holding company for First Bank, providing a wide range of commercial banking services aimed at small and medium-sized businesses, individuals, estate management, local governments, and non-profit organizations within Virginia. Their deposit offerings include checking, savings, money market accounts, individual retirement accounts, as well as certificates of deposit and treasury management services.

Stock, Investment, ShortInterest