First National Past Earnings Performance

Past criteria checks 2/6

First National has been growing earnings at an average annual rate of 11.6%, while the Banks industry saw earnings growing at 10.1% annually. Revenues have been growing at an average rate of 11.8% per year. First National's return on equity is 8.3%, and it has net margins of 19.6%.

Key information

11.6%

Earnings growth rate

4.9%

EPS growth rate

Banks Industry Growth	11.2%
Revenue growth rate	11.8%
Return on equity	8.3%
Net Margin	19.6%
Last Earnings Update	31 Dec 2023

Recent past performance updates

Recent updates

First National (NASDAQ:FXNC) Has Announced That It Will Be Increasing Its Dividend To US$0.14

May 17

First National's (NASDAQ:FXNC) Dividend Will Be Increased To US$0.14

Feb 15

First National goes ex-dividend tomorrow

May 26

Here's Why I Think First National (NASDAQ:FXNC) Is An Interesting Stock

May 04

First National reports Q1 results

Apr 30

Gerald Smith Is The Independent Vice Chairman & Secretary of the Board of First National Corporation (NASDAQ:FXNC) And They Just Picked Up 3.3% More Shares

Mar 21

How Does First National Corporation (NASDAQ:FXNC) Stand Up To These Simple Dividend Safety Checks?

Mar 12

Is First National's (NASDAQ:FXNC) Share Price Gain Of 100% Well Earned?

Feb 04

First National reports Q4 results

Jan 29

First National goes ex-dividend tomorrow

Dec 17

First National (NASDAQ:FXNC) Could Be A Buy For Its Upcoming Dividend

Dec 14

How Much Does First National's (NASDAQ:FXNC) CEO Make?

Nov 23

First National reports Q3 results

Oct 29

Revenue & Expenses Breakdown
Beta

How First National makes and spends money. Based on latest reported earnings, on an LTM basis.

Earnings and Revenue History

NasdaqCM:FXNC Revenue, expenses and earnings (USD Millions)
Date	Revenue	Earnings	G+A Expenses
31 Dec 23	49	10	30
30 Sep 23	56	15	30
30 Jun 23	57	17	29
31 Mar 23	57	17	29
31 Dec 22	56	17	29
30 Sep 22	54	14	30
30 Jun 22	52	12	31
31 Mar 22	49	12	29
31 Dec 21	46	10	27
30 Sep 21	43	11	24
30 Jun 21	39	11	20
31 Mar 21	36	10	19
31 Dec 20	35	9	19
30 Sep 20	34	8	19
30 Jun 20	35	9	19
31 Mar 20	35	9	20
31 Dec 19	36	10	20
30 Sep 19	36	9	19
30 Jun 19	36	9	19
31 Mar 19	36	10	19
31 Dec 18	36	10	19
30 Sep 18	35	9	19
30 Jun 18	34	8	19
31 Mar 18	34	8	19
31 Dec 17	33	6	19
30 Sep 17	33	7	19
30 Jun 17	32	7	19
31 Mar 17	32	6	19
31 Dec 16	32	6	19
30 Sep 16	31	5	20
30 Jun 16	31	4	21
31 Mar 16	30	2	21
31 Dec 15	29	2	20
30 Sep 15	32	4	19
30 Jun 15	30	5	18
31 Mar 15	30	6	16
31 Dec 14	30	6	16
30 Sep 14	28	10	16
30 Jun 14	27	10	15
31 Mar 14	25	9	15
31 Dec 13	25	9	15
30 Sep 13	22	3	15
30 Jun 13	22	2	15

Quality Earnings: FXNC has high quality earnings.

Growing Profit Margin: FXNC's current net profit margins (19.6%) are lower than last year (29.8%).

Free Cash Flow vs Earnings Analysis

Past Earnings Growth Analysis

Earnings Trend: FXNC's earnings have grown by 11.6% per year over the past 5 years.

Accelerating Growth: FXNC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: FXNC had negative earnings growth (-42.7%) over the past year, making it difficult to compare to the Banks industry average (-10.2%).

Return on Equity

High ROE: FXNC's Return on Equity (8.3%) is considered low.

Return on Assets

Return on Capital Employed

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First National Past Earnings Performance

Past criteria checks 2/6

Key information

Recent past performance updates

Full year 2023 earnings released: EPS: US$1.54 (vs US$2.69 in FY 2022)

First National Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2023

Third quarter 2023 earnings released: EPS: US$0.50 (vs US$0.71 in 3Q 2022)

First National Corporation Reports Net Charge-Offs for the Third Quarter Ended September 30, 2023

Second quarter 2023 earnings released: EPS: US$0.56 (vs US$0.61 in 2Q 2022)

Full year 2022 earnings released: EPS: US$2.69 (vs US$1.87 in FY 2021)

Recent updates

New minor risk - Market cap size

First National Corporation, Annual General Meeting, May 08, 2024

Price target decreased by 12% to US$18.50

First National Corporation (NasdaqCM:FXNC) entered into a definitive merger agreement to acquire Touchstone Bankshares, Inc. (OTCPK:TSBA) for $46.9 million.

First National Corporation (NasdaqCM:FXNC) entered into a definitive merger agreement to acquire Touchstone Bankshares, Inc. (OTCPK:TSBA) for $46.9 million.

First National Corporation (NasdaqCM:FXNC) entered into a definitive merger agreement to acquire Touchstone Bankshares, Inc. (OTCPK:TSBA) for $47.3 million.

First National (NASDAQ:FXNC) Will Pay A Dividend Of $0.15

Fourth quarter dividend of US$0.15 announced

Full year 2023 earnings released: EPS: US$1.54 (vs US$2.69 in FY 2022)

Price target increased by 17% to US$21.00

First National Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2023

Insufficient new directors

Upcoming dividend of US$0.15 per share at 3.2% yield

First National Corporation Declares Quarterly Cash Dividend, Payable on December 8, 2023

New major risk - Revenue and earnings growth

Third quarter 2023 earnings released: EPS: US$0.50 (vs US$0.71 in 3Q 2022)

First National Corporation Reports Net Charge-Offs for the Third Quarter Ended September 30, 2023

Investor sentiment deteriorates as stock falls 15%

Upcoming dividend of US$0.15 per share at 3.5% yield

First National (NASDAQ:FXNC) Is Due To Pay A Dividend Of $0.15

First National Corporation Announces Quarterly Cash Dividend, Payable on September 8, 2023

Second quarter 2023 earnings released: EPS: US$0.56 (vs US$0.61 in 2Q 2022)

Upcoming dividend of US$0.15 per share at 4.0% yield

First National (NASDAQ:FXNC) Is Due To Pay A Dividend Of $0.15

Full year 2022 earnings released: EPS: US$2.69 (vs US$1.87 in FY 2021)

First National's (NASDAQ:FXNC) Dividend Will Be Increased To $0.15

First National Corporation Announces Quarterly Cash Dividend, Payable on March 10, 2023

First National Corporation Announces Quarterly Cash Dividend, Payable on December 16, 2022

First National Corporation Reports Net Charge Offs for the Fourth Quarter Ended December 31, 2022

Full year 2022 earnings released: EPS: US$2.68 (vs US$1.87 in FY 2021)

First National Corporation Declares Quarterly Cash Dividend, Payable on December 16, 2022

Investor sentiment improved over the past week

First National Corporation Announces Unaudited Net Charge Offs for the Quarter Ended September 30, 2022

Third quarter 2022 earnings released: EPS: US$0.71 (vs US$0.39 in 3Q 2021)

First National goes ex-dividend tomorrow

First National Corporation Declares Quarterly Cash Dividend, Payable on September 9, 2022

Second quarter 2022 earnings released: EPS: US$0.61 (vs US$0.69 in 2Q 2021)

First National GAAP EPS of $0.61, revenue of $14.07M

Independent Director recently bought US$94k worth of stock

Upcoming dividend of US$0.14 per share

First National (NASDAQ:FXNC) Has Announced That It Will Be Increasing Its Dividend To US$0.14

First National Corporation Appoints Matt Paciocco as Senior Vice President and Regional Executive for Richmond, Virginia

First quarter 2022 earnings: EPS exceeds analyst expectations

First National Corporation, Annual General Meeting, May 11, 2022

Full year 2021 earnings: EPS misses analyst expectations

Upcoming dividend of US$0.14 per share

First National's (NASDAQ:FXNC) Dividend Will Be Increased To US$0.14

First National Corporation Declares Quarterly Cash Dividend, Payable on March 11, 2022

First National Corporation Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2021

Full year 2021 earnings: EPS misses analyst expectations

Third quarter 2021 earnings released: EPS US$0.39 (vs US$0.36 in 3Q 2020)

Insufficient new directors

Upcoming dividend of US$0.12 per share

Second quarter 2021 earnings released: EPS US$0.69 (vs US$0.46 in 2Q 2020)

First National Corporation (NasdaqCM:FXNC) completed the acquisition of The Bank of Fincastle (OTCPK : BFTL).

First National Corporation(NasdaqCM:FXNC) dropped from Russell Microcap Growth Index

First National goes ex-dividend tomorrow

Upcoming dividend of US$0.12 per share

First National Corporation Declares Quarterly Cash Dividend, Payable on June 11, 2021

Here's Why I Think First National (NASDAQ:FXNC) Is An Interesting Stock

First quarter 2021 earnings released: EPS US$0.50 (vs US$0.34 in 1Q 2020)

First National reports Q1 results

Key Executive recently bought US$100k worth of stock

Gerald Smith Is The Independent Vice Chairman & Secretary of the Board of First National Corporation (NASDAQ:FXNC) And They Just Picked Up 3.3% More Shares

Key Executive recently bought US$152k worth of stock

How Does First National Corporation (NASDAQ:FXNC) Stand Up To These Simple Dividend Safety Checks?

First National Corporation (NasdaqCM:FXNC) signed a definitive merger agreement to acquire The Bank of Fincastle (OTCPK : BFTL) for $31.5 million.

New 90-day high: US$18.40

Is First National's (NASDAQ:FXNC) Share Price Gain Of 100% Well Earned?

Revenue & Expenses Breakdown
Beta