Virginia National Bankshares (NASDAQ:VABK) Issues Quarterly Earnings Results

Virginia National Bankshares (NASDAQ:VABK) issued its earnings results on Thursday. The company reported $0.97 earnings per share for the quarter, FiscalAI reports. Virginia National Bankshares had a net margin of 23.11% and a return on equity of 11.02%. The firm had revenue of $14.40 million during the quarter.

Virginia National Bankshares Stock Performance

Shares of VABK opened at $41.43 on Friday. The stock’s 50-day simple moving average is $39.51 and its 200 day simple moving average is $40.01. The stock has a market capitalization of $224.55 million, a price-to-earnings ratio of 11.67 and a beta of 0.42. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. Virginia National Bankshares has a 52-week low of $34.81 and a 52-week high of $44.57.

Virginia National Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Wednesday, May 13th. Virginia National Bankshares’s payout ratio is presently 40.56%.

Institutional Investors Weigh In On Virginia National Bankshares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in shares of Virginia National Bankshares in the first quarter valued at approximately $227,000. Geode Capital Management LLC increased its holdings in Virginia National Bankshares by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 112,804 shares of the company’s stock worth $4,174,000 after acquiring an additional 2,348 shares during the period. Tower Research Capital LLC TRC increased its holdings in Virginia National Bankshares by 465.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,573 shares of the company’s stock worth $58,000 after acquiring an additional 1,295 shares during the period. Atlantic Union Bankshares Corp lifted its stake in Virginia National Bankshares by 1,526.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 242,309 shares of the company’s stock worth $9,404,000 after purchasing an additional 227,407 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Virginia National Bankshares by 19.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,816 shares of the company’s stock valued at $187,000 after purchasing an additional 787 shares during the period. 37.39% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Virginia National Bankshares from a “buy (b)” rating to a “hold (c)” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Virginia National Bankshares currently has a consensus rating of “Hold”.

Virginia National Bankshares Company Profile

Virginia National Bankshares, Inc is a bank holding company headquartered in Virginia. Through its wholly owned subsidiary, Virginia National Bank, the company offers a full suite of commercial and consumer banking services across its regional footprint.

Its product lineup includes traditional deposit accounts such as checking, savings, money market and certificate of deposit offerings. On the lending side, Virginia National Bank provides commercial loans, business lines of credit, residential and commercial real estate mortgages, construction financing and consumer installment loans.