Stock fact sheet · data as of
First National Corporation (FXNC): fair value, margin of safety and Wheel Score
Ticker symbol FXNC · Financial Services · Banks - Regional · United States · Blend
Is FXNC undervalued?
At 31.52 (close of 5 Nov 2026), FXNC trades within a few percent of the GLS average fair value of 33.83 (6.8% below fair value). 9 models produced a value and they split 5 above the price to 4 below. A stock priced at fair value earns about half of the Wheel Score's Value points; the rest of the score comes from health, moat, premium and stability.
There is a wide gap between GLS Growth (0.1205) and DCF (64.20). When the models are this far apart the "fair value" is really a range, and the margin of safety above should be read with that range in mind.
Ranked against every other company we cover, neither cheapness nor growth clearly wins for FXNC, so the nightly engine files it under Blend (value score 54, growth score 42, out of 100).
Nine valuation models for FXNC
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 64.20 | +104% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 35.18 | +12% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 53.66 | +70% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 16.62 | -47% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 0.1205 | -100% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 59.73 | +89% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 36.65 | +16% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | 10.01 | -68% | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend |
| EPV | 28.28 | -10% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -184.41 | -685% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 21.00 | -33% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
First National Corporation scores 6 of 9 on the Piotroski F-score: a middling result that passes the "Piotroski 6 or more" Wheel Trade Filter. Some of the nine tests on profitability, leverage and efficiency are failed, so the accounts are worth a look before selling a put on the name. On durability FXNC scores 6.3/10 on the GLS Moat - a middle reading; the Moat Score tab on the Quote page's Financials view shows which of the four parts hold it back.
Returns on capital are moderate - ROIC 7.7%, ROE 9.5%, ROA 0.9% - with debt at 0.23 times equity and a free-cash-flow yield of 7.2%.
The dividend yield is 2.16% at a payout ratio of 19%; for a wheel trader holding assigned shares the dividend adds to the covered-call premium, and the ex-dividend date is worth knowing before a call is sold. Revenue comes mainly from Bank Servicing And Deposit Account 38%, Credit And Debit Card 28%, Financial Service, Wealth Management 24% (quarter Q1 FY2019).
Institutional ownership scores 5/10, insider activity 10/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 7.7% |
|---|---|---|---|
| GLS Moat | 6.3 / 10 | ROE | 9.5% |
| Debt / equity | 0.23 | ROA | 0.9% |
| Free-cash-flow yield | 7.2% | Payout ratio | 19% |
| Institutions | 5 / 10 | Insiders · Congress | 10 · 5 / 10 |
Wheel Score 23: No options
No options are listed on First National Corporation in our nightly snapshot, so it fails the first Wheel Trade Filter (options that actually trade) (it reads 23, under 70) and is left out of every options scan; the fair value and health figures above are still useful for a plain stock position.
Volume runs at 26k shares a day on a market cap of $285M, with a beta of 0.41 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score rates that fair.
| Filter | Wheel Trade Filter | Result | Detail |
|---|---|---|---|
| 1 | Options that actually trade | Fails | no listed options |
| 2 | A real business, not a gamble | Passes | Profitable over the last twelve months - not a speculative stock, fund or note |
| 3 | Below fair value | Passes | Trading below the nine-model average fair value (margin of safety above 0) |
| 4 | Financially healthy | Passes | Piotroski F-score 6 or more out of 9 (a company with no score on file passes) |
| 5 | Can repay its debt | Passes | Long-term debt repaid from 3 years of operating cash flow or less (6 for real estate and utilities; banks and insurers are not judged on it) |
| 6 | No serious red flags | Passes | Red Flags score 60 or more out of 100 (earnings, margins, debt, analysts, filings and price checked the same way for every stock) |
| 7 | A premium worth selling | Fails | no implied volatility |
| 8 | Big enough | Fails | market cap $285M (under $1.0B) |
| 9 | Not a penny stock | Passes | Share price $5 or more |
| How it ranks | Rating | From | |
|---|---|---|---|
| Value | Weak | 7% below fair value | |
| Premium | Weak | no option data | |
| Moat | Good | moat 6.3/10 | |
| Health | Good | Piotroski 6/9 | |
| Red Flags | Fair | not scored yet - half marks | |
| Option trading | Weak | no option volume data | |
| Stability | Fair | beta 0.41, $285M company |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls: a stock must pass all 9 Wheel Trade Filters to score 70, and the score then ranks the ones that pass; the Sunday Scan is the top 10. It is updated nightly and is not a recommendation. How the Wheel Score works · the walkthrough lesson shows how it fits into a trade, start to finish.
Upcoming events
No upcoming earnings date is recorded for FXNC in the nightly calendar.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Banks - Regional
The 12 companies below are the closest to First National Corporation by market cap within the Banks - Regional industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| LCNB LCNB Corp. | 20.29 | 23.52 | +14% | 44Weak | $289M |
| BCBP BCB Bancorp, Inc. | 9.10 | 17.92 | +49% | 42Weak | $280M |
| VABK Virginia National Bankshares Corporation | 53.56 | 51.76 | -3% | 21No options | $291M |
| TRUX Truxton Corporation | 25.25 | 42.20 | +40% | 36No options | $291M |
| WNEB Western New England Bancorp, Inc. | 14.05 | 13.59 | -3% | 35Weak | $279M |
| HWBK Hawthorn Bancshares, Inc. | 40.07 | 53.47 | +25% | 32No options | $277M |
| QNBC QNB Corp. | 47.45 | 29.90 | -59% | 17No options | $295M |
| OVLY Oak Valley Bancorp | 35.29 | 37.23 | +5% | 22No options | $297M |
| FBLA FB Bancorp, Inc. Common Stock | 17.02 | 16.40 | -4% | 17No options | $271M |
| FNRN First Northern Community Bancorp | 18.35 | 17.62 | -4% | 19No options | $301M |
| BPRN Princeton Bancorp Inc. | 44.51 | 48.16 | +8% | 23No options | $303M |
| FVCB FVCBankcorp, Inc. | 16.83 | 19.80 | +15% | 46Weak | $304M |
⚖ Compare FXNC with 7 of them All Financial Services stocks →
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Start free See the Sunday ScanQuestions about FXNC
Is FXNC undervalued right now?
Not meaningfully: at 31.52 the stock trades within a few percent of the GLS average fair value of 33.83 (6.8% below fair value, data as of 5 Nov 2026).
What is the Wheel Score of FXNC and what does it mean?
FXNC has no listed options in our nightly snapshot, so it cannot be wheeled; it fails the first Wheel Trade Filter (options that actually trade), stays under 70 and is shown as "No options".
What is the GLS fair value for FXNC?
33.83 per share as of 5 Nov 2026 - the simple average of the 9 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does First National Corporation report earnings next?
No upcoming earnings date is recorded for FXNC in our calendar as of 5 Nov 2026; the Calendars page is refreshed every morning.
Does FXNC have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on FXNC, so the wheel strategy cannot be run on it and the Wheel Score stays under 70.