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Brad E. Schwartz, the Executive Vice President and Chief Financial Officer of First National Corp (NASDAQ:FXNC), recently acquired 1,000 shares of the company’s common stock. The purchase, which took place on June 5, 2025, was executed at a price of $19.65 per share, amounting to a total transaction value of $19,650. The transaction comes as the $176 million market cap company trades at a P/E ratio of 29x and offers a dividend yield of 3.16%. According to InvestingPro analysis, the stock appears to be fairly valued at current levels. Following this transaction, Schwartz holds a total of 4,000 shares in the company. The acquisition reflects Schwartz’s continued investment in the Virginia-based financial services firm, which has maintained dividend payments for 12 consecutive years and posted revenue growth of 31.7% in the last twelve months. InvestingPro subscribers can access 8 additional key insights about FXNC’s financial health and growth prospects.
In other recent news, First National Corporation reported the outcomes of its Annual Meeting of Shareholders, held on May 14, 2025. Shareholders approved the election of thirteen directors and ratified the appointment of Yount, Hyde & Barbour, P.C. as the company’s independent accounting firm for the fiscal year ending December 31, 2025. An advisory vote on executive compensation was also approved, with a significant majority supporting the package. Additionally, shareholders voted for a three-year frequency for future advisory votes on executive compensation. In other developments, First National announced a quarterly cash dividend of $0.155 per common share, payable on June 13, 2025. The company also appointed Brad E. Schwartz as Executive Vice President and Chief Financial Officer, effective March 31, 2025. Schwartz brings over four decades of experience in Virginia banking, including leadership roles at TowneBank (NASDAQ:TOWN) and Monarch Bank. His expertise is expected to enhance First National’s strategic leadership, particularly in financial planning and investor relations.
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