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First National
(NASDAQ:FXNC)
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Rating:71Outperform
Price Target:
$35.00
â–²(36.93% Upside)
Action:Upgraded
Date:08/17/26
The score is driven primarily by improved financial performance (strong TTM revenue growth and profitability with healthier leverage) tempered by cash-flow inconsistency. Technicals are supportive with an uptrend and positive momentum, while valuation is reasonable with a modest dividend. A recent dividend announcement adds incremental support but is not a major driver.
Positive Factors
Strong revenue and profit recovery
The substantial multi-year revenue expansion and strong TTM profitability indicate improved scale and earnings power. If sustained, this growth can strengthen the bank’s ability to reinvest in lending, technology and customer relationships.
Negative Factors
Earnings remain cyclical
The sharp variation across periods shows that current profitability is not yet consistently repeatable. Future earnings could remain sensitive to credit conditions, funding costs and the economic cycle, limiting confidence in normalized returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue and profit recovery
The substantial multi-year revenue expansion and strong TTM profitability indicate improved scale and earnings power. If sustained, this growth can strengthen the bank’s ability to reinvest in lending, technology and customer relationships.
Read all positive factors
First National (FXNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$288.28M
Dividend Yield2.09%
Average Volume (3M)17.30K
Price to Earnings (P/E)13.3
Beta (1Y)0.66
Revenue Growth7.47%
EPS Growth141.95%
CountryUS
Employees308
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)2.40
Shares Outstanding9,042,629
10 Day Avg. Volume18,705
30 Day Avg. Volume17,295
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.22
Price to Sales (P/S)2.02
P/FCF Ratio10.81
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)2.44
Revenue Forecast (FY)$94.45M
First National Business Overview & Revenue Model
Company Description
First National Corporation serves as the holding company for First Bank, which offers a diverse array of financial solutions and commercial banking services. It caters to a broad clientele across Virginia, including individuals, small and medium-s...
How the Company Makes Money
FXNC primarily makes money through its banking subsidiary by earning net interest income and generating noninterest income. Net interest income is the core driver: the bank collects interest and fees on loans and other interest-earning assets (e.g...
First National Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
56
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 117.40M | 112.20M | 88.27M | 67.88M | 60.67M | 46.17M |
| Gross Profit | 91.01M | 83.07M | 56.55M | 47.42M | 55.01M | 44.52M |
| EBITDA | 30.37M | 26.47M | 10.45M | 13.42M | 22.26M | 14.35M |
| Net Income | 21.68M | 17.70M | 6.97M | 9.62M | 16.80M | 10.36M |
Balance Sheet | ||||||
| Total Assets | 2.08B | 2.04B | 2.01B | 1.42B | 1.37B | 1.39B |
| Cash, Cash Equivalents and Short-Term Investments | 488.97M | 177.80M | 164.50M | 240.02M | 229.82M | 465.50M |
| Total Debt | 42.74M | 42.59M | 30.45M | 64.28M | 14.27M | 19.27M |
| Total Liabilities | 1.88B | 1.85B | 1.84B | 1.30B | 1.26B | 1.27B |
| Stockholders Equity | 193.59M | 186.20M | 166.53M | 116.27M | 108.36M | 117.04M |
Cash Flow | ||||||
| Free Cash Flow | 15.06M | 21.01M | -25.50M | 14.52M | 25.59M | 7.03M |
| Operating Cash Flow | 18.17M | 25.19M | -22.20M | 16.39M | 26.77M | 7.87M |
| Investing Cash Flow | -67.24M | -29.41M | 136.83M | -34.34M | -120.14M | -126.30M |
| Financing Cash Flow | 8.78M | 2.26M | -38.91M | 38.20M | -15.72M | 167.15M |
First National Technical Analysis
Positive
25.56
Price Trends
30.15
Positive
28.85
Positive
27.02
Positive
Market Momentum
0.64
Negative
60.17
Neutral
46.73
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FXNC, the sentiment is Positive. The current price of 25.56 is below the 20-day moving average (MA) of 31.01, below the 50-day MA of 30.15, and below the 200-day MA of 27.02, indicating a bullish trend. The MACD of 0.64 indicates Negative momentum. The RSI at 60.17 is Neutral, neither overbought nor oversold. The STOCH value of 46.73 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FXNC.
First National Risk Analysis
First National disclosed 49 risk factors in its most recent earnings report. First National reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First National Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $253.85M | 10.22 | 13.36% | 3.21% | 5.91% | 37.89% | |
74 Outperform | $282.96M | 11.47 | 8.92% | 4.32% | -2.20% | 15.53% | |
71 Outperform | $288.28M | 13.28 | 11.51% | 2.49% | 7.47% | 141.95% | |
71 Outperform | $288.24M | 11.65 | 14.00% | 2.14% | 10.02% | 67.97% | |
71 Outperform | $236.27M | 12.62 | 9.83% | 3.06% | 20.33% | 59.91% | |
70 Outperform | $233.40M | 8.02 | 12.59% | 3.19% | 7.19% | 31.23% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
FXNC
First National
31.88
10.24
47.31%
LCNB
LCNB
19.85
5.45
37.89%
OPBK
OP Bancorp
15.63
2.42
18.34%
FRAF
Franklin Financial Services
64.06
22.98
55.93%
EFSI
Eagle Financial Services
43.66
9.87
29.21%
VABK
Virginia National Bankshares
46.79
9.86
26.70%
First National Corporate Events
Dividends
First National Declares Quarterly Cash Dividend for Shareholders
Positive
Aug 13, 2026
On August 12, 2026, First National’s board declared a quarterly cash dividend of $0.17 per common share, reinforcing the company’s practice of returning capital to shareholders. The dividend will be paid on September 11, 2026, to share...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.