Virginia National Bankshares (NASDAQ:VABK) Shares Down 2.7% - Here's What Happened

Key Points

• Virginia National Bankshares (NASDAQ:VABK) experienced a 2.7% drop in stock price, closing at $41.22 after hitting a low of $40.50 during trading.
• The company reported a quarterly earnings per share (EPS) of $0.78 and declared a $0.36 quarterly dividend, resulting in an annualized dividend of $1.44 and a yield of 3.5%.
• Institutional investors now hold 37.39% of Virginia National Bankshares' stock, with several firms increasing their positions significantly in recent quarters.

Virginia National Bankshares Corporation (NASDAQ:VABK - Get Free Report)'s share price dropped 2.7% during trading on Monday . The stock traded as low as $40.50 and last traded at $41.22. Approximately 199,617 shares were traded during trading, an increase of 1,513% from the average daily volume of 12,374 shares. The stock had previously closed at $42.35.

Virginia National Bankshares Trading Up 0.4%

The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average of $38.10 and a 200 day moving average of $37.02. The company has a market cap of $224.28 million, a P/E ratio of 12.57 and a beta of 0.43.

Virginia National Bankshares (NASDAQ:VABK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $0.78 earnings per share (EPS) for the quarter. The business had revenue of $14.11 million for the quarter. Virginia National Bankshares had a return on equity of 10.78% and a net margin of 21.39%.

Virginia National Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.36 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.44 annualized dividend and a yield of 3.5%. Virginia National Bankshares's dividend payout ratio is presently 43.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in VABK. Wells Fargo & Company MN boosted its holdings in Virginia National Bankshares by 8.6% in the fourth quarter. Wells Fargo & Company MN now owns 7,576 shares of the company's stock worth $289,000 after acquiring an additional 597 shares in the last quarter. Envestnet Asset Management Inc. bought a new position in Virginia National Bankshares in the fourth quarter worth approximately $223,000. Barclays PLC lifted its holdings in shares of Virginia National Bankshares by 14.5% in the fourth quarter. Barclays PLC now owns 7,028 shares of the company's stock valued at $268,000 after purchasing an additional 892 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Virginia National Bankshares by 13.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 38,563 shares of the company's stock valued at $1,473,000 after purchasing an additional 4,525 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Virginia National Bankshares by 527.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 960 shares of the company's stock valued at $37,000 after purchasing an additional 807 shares in the last quarter. Institutional investors own 37.39% of the company's stock.

Virginia National Bankshares Company Profile

Virginia National Bankshares Corporation operates as the holding company for Virginia National Bank that provides a range of commercial and retail banking services. The company operates through Bank, Sturman Wealth Advisors, VNB Trust and Estate Services, and Masonry Capital segments. It provides checking accounts, demand deposits, NOW accounts, money market deposit accounts, time deposits, certificates of deposit, individual retirement accounts, and other depository services.