Virginia National Bankshares Shares to Split on Friday, November 20th (NASDAQ:VABK)

Key Points

• Virginia National Bankshares announced a 1.08-for-1 stock split effective Friday, November 20, with the additional shares payable after the market closes on November 19.
• The bank reported quarterly earnings of $1.20 per share on revenue of $16.22 million, with a 29.92% net margin and 14.21% return on equity.
• The company raised its quarterly dividend from $0.36 to $0.38 per share, equivalent to $1.52 annually and a 2.8% yield. Analysts’ consensus rating remains “Hold.”

Virginia National Bankshares Corporation (NASDAQ:VABK - Free Report)'s stock is set to split on Friday, November 20th. The 1.08-1 split was recently announced. The newly created shares will be payable to shareholders after the closing bell on Thursday, November 19th.

Virginia National Bankshares Price Performance

NASDAQ:VABK traded up $0.30 during trading hours on Wednesday, reaching $53.61. 11,998 shares of the company were exchanged, compared to its average volume of 8,899. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.10. The stock's 50-day moving average is $49.32 and its 200-day moving average is $44.36. The firm has a market cap of $291.10 million, a PE ratio of 10.90 and a beta of 0.46. Virginia National Bankshares has a twelve month low of $37.35 and a twelve month high of $55.00.

Virginia National Bankshares (NASDAQ:VABK - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.20 earnings per share for the quarter. Virginia National Bankshares had a net margin of 29.92% and a return on equity of 14.21%. The company had revenue of $16.22 million during the quarter.

Virginia National Bankshares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be given a dividend of $0.38 per share. This is a boost from Virginia National Bankshares's previous quarterly dividend of $0.36. The ex-dividend date is Tuesday, December 1st. This represents a $1.52 annualized dividend and a dividend yield of 2.8%. Virginia National Bankshares's payout ratio is currently 29.27%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VABK. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Virginia National Bankshares in a research note on Thursday, October 22nd. Wall Street Zen upgraded Virginia National Bankshares from a "hold" rating to a "buy" rating in a research note on Saturday, August 15th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, Virginia National Bankshares currently has a consensus rating of "Hold".

Institutional Investors Weigh In On Virginia National Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. De Lisle Partners LLP purchased a new stake in shares of Virginia National Bankshares during the second quarter worth $1,272,000. Royce & Associates LP lifted its stake in shares of Virginia National Bankshares by 83.9% in the third quarter. Royce & Associates LP now owns 49,125 shares of the company's stock worth $2,341,000 after buying an additional 22,407 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Virginia National Bankshares in the second quarter worth about $699,000. Apella Capital LLC purchased a new position in shares of Virginia National Bankshares in the third quarter worth about $223,000. Finally, Dimensional Fund Advisors LP boosted its position in Virginia National Bankshares by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 51,463 shares of the company's stock worth $1,967,000 after acquiring an additional 1,402 shares during the last quarter. Institutional investors and hedge funds own 37.39% of the company's stock.

About Virginia National Bankshares

Virginia National Bankshares Corp. is a bank holding company headquartered in Charlottesville, Virginia. It operates through its principal subsidiary, Virginia National Bank, a community bank serving individuals, families, businesses and organizations in Virginia. Virginia National Bank provides a range of financial services, including checking and savings accounts, certificates of deposit, residential and commercial real estate lending, consumer loans, business loans and treasury management services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.