On July 3, 2024, Kirtesh Patel, a Director at First National Corp (FXNC, Financial), purchased 7,500 shares of the company, as reported in a recent SEC Filing. This transaction increased the insider's holdings to 29,611 shares.
First National Corp operates as a bank holding company for First Bank that provides a range of banking services to individuals and businesses in Virginia. The company offers deposit products, loan products, and other services typical of a full-service bank.
The shares were bought at a price of $15.56 per share, valuing the transaction at $116,700. Following this purchase, the market cap of First National Corp stands at $96.985 million.
The company's current price-earnings ratio is 10.80, which is above the industry median of 9.6. This ratio is also higher than the company's historical median.
According to the GF Value, the intrinsic value of First National Corp's stock is estimated at $18.92 per share, suggesting that the stock is Modestly Undervalued with a price-to-GF-Value ratio of 0.82.
Over the past year, there have been 42 insider buys and no insider sells at First National Corp. The insider's recent purchase aligns with the overall positive buying trend observed within the company.
This insider buying activity could be a signal to investors about the perceived value of the stock at current prices, especially when considered alongside the company's valuation metrics and GF Value estimation.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
