FXNC Stock Overview
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.
First National Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||US$22.43|
|52 Week High||US$23.87|
|52 Week Low||US$15.26|
|1 Month Change||-2.35%|
|3 Month Change||6.05%|
|1 Year Change||43.51%|
|3 Year Change||15.92%|
|5 Year Change||70.83%|
|Change since IPO||327.24%|
Recent News & Updates
|FXNC||US Banks||US Market|
Return vs Industry: FXNC exceeded the US Banks industry which returned 36.7% over the past year.
Return vs Market: FXNC exceeded the US Market which returned 17.8% over the past year.
|FXNC Average Weekly Movement||3.3%|
|Banks Industry Average Movement||3.7%|
|Market Average Movement||6.1%|
|10% most volatile stocks in US Market||14.9%|
|10% least volatile stocks in US Market||2.4%|
Stable Share Price: FXNC is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: FXNC's weekly volatility (3%) has been stable over the past year.
About the Company
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. Its loan products comprise construction loans, including residential, land acquisition, and development loans; 1-4 family residential real estate loans; and commercial real estate loans that are secured by various types of commercial real estate, including multi-family residential buildings, office and retail buildings, hotels, industrial buildings, and religious facilities.
First National Fundamentals Summary
|FXNC fundamental statistics|
Is FXNC overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|FXNC income statement (TTM)|
|Cost of Revenue||US$0|
Last Reported Earnings
Sep 30, 2021
Next Earnings Date
|Earnings per share (EPS)||1.82|
|Net Profit Margin||26.48%|
How did FXNC perform over the long term?See historical performance and comparison
2.1%Current Dividend Yield
Is First National undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FXNC ($22.43) is trading below our estimate of fair value ($43.01)
Significantly Below Fair Value: FXNC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FXNC is poor value based on its PE Ratio (12.3x) compared to the US Banks industry average (10.5x).
PE vs Market: FXNC is good value based on its PE Ratio (12.3x) compared to the US market (16.6x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FXNC's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FXNC's PB Ratio (1.2x) is in line with the US Banks industry average.
How is First National forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First National has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
How has First National performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FXNC has high quality earnings.
Growing Profit Margin: FXNC's current net profit margins (26.5%) are higher than last year (24.7%).
Past Earnings Growth Analysis
Earnings Trend: FXNC's earnings have grown by 11% per year over the past 5 years.
Accelerating Growth: FXNC's earnings growth over the past year (34.6%) exceeds its 5-year average (11% per year).
Earnings vs Industry: FXNC earnings growth over the past year (34.6%) underperformed the Banks industry 43%.
Return on Equity
High ROE: FXNC's Return on Equity (9.7%) is considered low.
How is First National's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Financial Institutions Analysis
Asset Level: FXNC's Assets to Equity ratio (11.6x) is moderate.
Allowance for Bad Loans: FXNC has a sufficient allowance for bad loans (252%).
Low Risk Liabilities: 98% of FXNC's liabilities are made up of primarily low risk sources of funding.
Loan Level: FXNC has an appropriate level of Loans to Assets ratio (60%).
Low Risk Deposits: FXNC's Loans to Deposits ratio (67%) is appropriate.
Level of Bad Loans: FXNC has an appropriate level of bad loans (0.3%).
What is First National current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FXNC's dividend (2.14%) is higher than the bottom 25% of dividend payers in the US market (1.37%).
High Dividend: FXNC's dividend (2.14%) is low compared to the top 25% of dividend payers in the US market (3.69%).
Stability and Growth of Payments
Stable Dividend: FXNC's dividend payments have been volatile in the past 10 years.
Growing Dividend: FXNC's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (21.6%), FXNC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Scott Harvard (66 yo)
Mr. Scott C. Harvard has been Chief Executive Officer and President of First National Corporation since May 9, 2011 and has been Chief Executive Officer of First Bank since June 2015. Mr. Harvard previousl...
CEO Compensation Analysis
Compensation vs Market: Scott's total compensation ($USD582.48K) is about average for companies of similar size in the US market ($USD563.50K).
Compensation vs Earnings: Scott's compensation has increased by more than 20% in the past year.
Experienced Management: FXNC's management team is seasoned and experienced (9 years average tenure).
Experienced Board: FXNC's board of directors are considered experienced (5.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 28.2%.
First National Corporation's employee growth, exchange listings and data sources
- Name: First National Corporation
- Ticker: FXNC
- Exchange: NasdaqCM
- Founded: 1907
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$139.036m
- Shares outstanding: 6.23m
- Website: https://www.fbvirginia.com
Number of Employees
- First National Corporation
- 112 West King Street
- United States
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/12/02 23:38|
|End of Day Share Price||2021/12/02 00:00|
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.