First National Virginia Posts 3Q EPS of 76 Cents
FXNC sits 35% above its 52-week low of $22.09.
Summary
First National Virginia reported third-quarter EPS of 76 cents and net income of $6.9 million. The EPS figure is up from 64 cents in Q2, a 12-cent sequential increase, and extends the earnings growth trend from the second quarter, when net interest margin expanded to 4.15%. For a small-cap bank, a jump of that size in a single quarter is meaningful and points to continued margin strength. The headline gives no revenue, margin, or credit figures, so the quality of the beat is not yet clear. The full release and any accompanying 8-K will show whether the gain came from core spread income or one-off items.
At the time of this announcement, FXNC was trading at $29.85 on NASDAQ in the Finance sector, with a market capitalization of approximately $269.9M. The 52-week trading range was $22.09 to $33.24. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.