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VABK

Virginia National Bankshares NasdaqCM:VABK Stock Report

Last Price

US$33.00

Market Cap

US$175.8m

7D

-0.4%

1Y

-8.4%

Updated

28 Sep, 2022

Data

Company Financials
VABK fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance5/6
Financial Health6/6
Dividends2/6

VABK Stock Overview

Virginia National Bankshares Corporation operates as the holding company for Virginia National Bank that provides a range of commercial banking services.

Virginia National Bankshares Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Virginia National Bankshares
Historical stock prices
Current Share PriceUS$33.00
52 Week HighUS$40.00
52 Week LowUS$27.05
Beta0.63
1 Month Change0.03%
3 Month Change4.80%
1 Year Change-8.43%
3 Year Change-11.29%
5 Year Change-0.32%
Change since IPO234.72%

Recent News & Updates

Aug 02
Virginia National Bankshares (NASDAQ:VABK) Will Pay A Dividend Of $0.30

Virginia National Bankshares (NASDAQ:VABK) Will Pay A Dividend Of $0.30

The board of Virginia National Bankshares Corporation ( NASDAQ:VABK ) has announced that it will pay a dividend on the...

Shareholder Returns

VABKUS BanksUS Market
7D-0.4%-4.5%-2.0%
1Y-8.4%-23.8%-20.3%

Return vs Industry: VABK exceeded the US Banks industry which returned -24.8% over the past year.

Return vs Market: VABK exceeded the US Market which returned -22.1% over the past year.

Price Volatility

Is VABK's price volatile compared to industry and market?
VABK volatility
VABK Average Weekly Movement2.8%
Banks Industry Average Movement3.4%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: VABK is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: VABK's weekly volatility (3%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1998170Glenn Rusthttps://www.vnb.com

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

Virginia National Bankshares Fundamentals Summary

How do Virginia National Bankshares's earnings and revenue compare to its market cap?
VABK fundamental statistics
Market CapUS$175.77m
Earnings (TTM)US$19.03m
Revenue (TTM)US$61.55m

9.2x

P/E Ratio

1.3x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
VABK income statement (TTM)
RevenueUS$61.55m
Cost of RevenueUS$0
Gross ProfitUS$61.55m
Other ExpensesUS$42.53m
EarningsUS$19.03m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

n/a

Earnings per share (EPS)3.57
Gross Margin100.00%
Net Profit Margin30.91%
Debt/Equity Ratio2.3%

How did VABK perform over the long term?

See historical performance and comparison

Dividends

3.6%

Current Dividend Yield

34%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is VABK undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for VABK?

Other financial metrics that can be useful for relative valuation.

VABK key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ration/a

Price to Earnings Ratio vs Peers

How does VABK's PE Ratio compare to its peers?

VABK PE Ratio vs Peers
The above table shows the PE ratio for VABK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.2x
MRBK Meridian
6x2.7%US$172.0m
PBAM Private Bancorp of America
7.2x-3.0%US$163.4m
COFS ChoiceOne Financial Services
7.4xn/aUS$162.9m
CFST Communities First Financial
8.3xn/aUS$186.9m
VABK Virginia National Bankshares
9.2xn/aUS$175.8m

Price-To-Earnings vs Peers: VABK is expensive based on its Price-To-Earnings Ratio (9.2x) compared to the peer average (7.2x).


Price to Earnings Ratio vs Industry

How does VABK's PE Ratio compare vs other companies in the US Banks Industry?

Price-To-Earnings vs Industry: VABK is good value based on its Price-To-Earnings Ratio (9.2x) compared to the US Banks industry average (9.5x)


Price to Earnings Ratio vs Fair Ratio

What is VABK's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

VABK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate VABK's Price-To-Earnings Fair Ratio for valuation analysis.


Share Price vs Fair Value

What is the Fair Price of VABK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: VABK ($33) is trading below our estimate of fair value ($60.24)

Significantly Below Fair Value: VABK is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.


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Future Growth

How is Virginia National Bankshares forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


10.6%

Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Virginia National Bankshares has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Discover growth companies

  • Examine whether Virginia National Bankshares is trading at an attractive price based on how much it is expected to earn in the future, and relative to its industry peers and the wider market.

Past Performance

How has Virginia National Bankshares performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


12.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: VABK has high quality earnings.

Growing Profit Margin: VABK's current net profit margins (30.9%) are higher than last year (16%).


Past Earnings Growth Analysis

Earnings Trend: VABK's earnings have grown by 12.7% per year over the past 5 years.

Accelerating Growth: VABK's earnings growth over the past year (210%) exceeds its 5-year average (12.7% per year).

Earnings vs Industry: VABK earnings growth over the past year (210%) exceeded the Banks industry 8.7%.


Return on Equity

High ROE: VABK's Return on Equity (14.2%) is considered low.


Discover strong past performing companies

Financial Health

How is Virginia National Bankshares's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

6/6

Financial Health Score 6/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: VABK's Assets to Equity ratio (13x) is moderate.

Allowance for Bad Loans: VABK has a sufficient allowance for bad loans (484%).

Low Risk Liabilities: 99% of VABK's liabilities are made up of primarily low risk sources of funding.

Loan Level: VABK has an appropriate level of Loans to Assets ratio (55%).

Low Risk Deposits: VABK's Loans to Deposits ratio (60%) is appropriate.

Level of Bad Loans: VABK has an appropriate level of bad loans (0.1%).


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Dividend

What is Virginia National Bankshares's current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


3.64%

Current Dividend Yield

Dividend Yield vs Market

Virginia National Bankshares Dividend Yield vs Market
How does Virginia National Bankshares dividend yield compare to the market?
SegmentDividend Yield
Company (Virginia National Bankshares)3.6%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (Banks)3.4%
Analyst forecast in 3 Years (Virginia National Bankshares)n/a

Notable Dividend: VABK's dividend (3.64%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: VABK's dividend (3.64%) is low compared to the top 25% of dividend payers in the US market (4.69%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, VABK has been paying a dividend for less than 10 years.

Growing Dividend: VABK's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (33.5%), VABK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years or that it will be covered by earnings.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average board tenure


CEO

Glenn Rust (66 yo)

9.67yrs

Tenure

US$782,514

Compensation

Mr. Glenn W. Rust is President and Chief Executive Officer of Virginia National Bankshares Corporation as well as a Managing Partner of both Masonry Capital and Masonry Capital GP, LLC. He was President of...


CEO Compensation Analysis

Glenn Rust's Compensation vs Virginia National Bankshares Earnings
How has Glenn Rust's remuneration changed compared to Virginia National Bankshares's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$19m

Mar 31 2022n/an/a

US$13m

Dec 31 2021US$783kUS$425k

US$10m

Sep 30 2021n/an/a

US$7m

Jun 30 2021n/an/a

US$6m

Mar 31 2021n/an/a

US$8m

Dec 31 2020US$640kUS$387k

US$8m

Sep 30 2020n/an/a

US$7m

Jun 30 2020n/an/a

US$7m

Mar 31 2020n/an/a

US$7m

Dec 31 2019US$595kUS$377k

US$7m

Sep 30 2019n/an/a

US$7m

Jun 30 2019n/an/a

US$7m

Mar 31 2019n/an/a

US$7m

Dec 31 2018US$554kUS$375k

US$8m

Sep 30 2018n/an/a

US$8m

Jun 30 2018n/an/a

US$8m

Mar 31 2018n/an/a

US$8m

Dec 31 2017US$459kUS$322k

US$7m

Sep 30 2017n/an/a

US$7m

Jun 30 2017n/an/a

US$7m

Mar 31 2017n/an/a

US$6m

Dec 31 2016US$424kUS$295k

US$6m

Sep 30 2016n/an/a

US$5m

Jun 30 2016n/an/a

US$5m

Mar 31 2016n/an/a

US$4m

Dec 31 2015US$410kUS$285k

US$3m

Compensation vs Market: Glenn's total compensation ($USD782.51K) is below average for companies of similar size in the US market ($USD1.69M).

Compensation vs Earnings: Glenn's compensation has increased by more than 20% in the past year.


Board Members

Experienced Board: VABK's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: VABK insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

NasdaqCM:VABK Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
07 Sep 22BuyUS$60,984William DittmarIndividual1,848US$33.00
24 Aug 22BuyUS$33,330Glenn RustIndividual1,000US$33.33
19 Aug 22BuyUS$30,023Randolph FrostickIndividual905US$33.18
12 Aug 22BuyUS$11,585Jay KeyserIndividual350US$33.10
12 Aug 22BuyUS$3,290Randolph FrostickIndividual100US$32.90
11 Aug 22BuyUS$4,935Jay KeyserIndividual150US$32.90
14 Jun 22BuyUS$15,495Jay KeyserIndividual500US$30.99
02 Jun 22BuyUS$39,474Kevin CarterIndividual1,225US$32.40
18 May 22BuyUS$33,250Linda HoustonIndividual1,000US$33.25
05 May 22BuyUS$33,950James HollandIndividual1,000US$33.95
10 Dec 21BuyUS$36,000Linda HoustonIndividual1,000US$36.00
15 Nov 21BuyUS$36,871James HollandIndividual1,000US$36.87

Ownership Breakdown

What is the ownership structure of VABK?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders675,97812.7%
Institutions1,720,59332.3%
General Public2,929,70055.0%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 40.25% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
4.35%
Hunter Craig
231,874$7.7m0%no data
3.95%
William Dittmar
210,212$6.9m0.89%no data
3.82%
AllianceBernstein L.P.
203,689$6.7m9.97%no data
3.73%
Royce & Associates, LP
198,450$6.5m0%0.06%
3.65%
Endeavour Capital Advisors Inc.
194,465$6.4m6.65%1.34%
3.62%
Fourthstone LLC
192,759$6.4m168.47%2.3%
2.46%
Meridian Financial Partners LLC
130,839$4.3m0%2.41%
2.42%
Strategic Value Bank Partners LLC
128,953$4.3m0%2.8%
1.84%
Elizabeth Park Capital Advisors, Ltd.
98,076$3.2m0%1.35%
1.27%
The Vanguard Group, Inc.
67,735$2.2m-66.09%no data
0.93%
Benjamin Partners, LLC
49,787$1.6m0%0.98%
0.9%
Cerity Partners LLC
48,177$1.6m0%0.02%
0.89%
Palladium Registered Investment Advisors
47,544$1.6m0%0.08%
0.76%
Raffles Associates LP
40,344$1.3m0%1.46%
0.74%
Banc Funds Company, L.L.C.
39,357$1.3m-18.61%0.12%
0.73%
Glenn Rust
38,675$1.3m2.65%no data
0.64%
Grace & White, Inc.
34,279$1.1m17.08%0.23%
0.6%
Geode Capital Management, LLC
32,013$1.1m71.57%no data
0.55%
Signature Financial Management, Inc.
29,405$970.4k0%0.33%
0.44%
James Holland
23,216$766.1k4.5%no data
0.43%
Hudson River Trading LLC, Asset Management Arm
22,875$754.9k0%0.01%
0.41%
Lowe, Brockenbrough & Company, Inc.
22,000$726.0k10%0.07%
0.39%
H. Benham
20,922$690.4k0%no data
0.37%
John Adams
19,669$649.1k0.09%no data
0.35%
U.S. Bancorp Asset Management, Inc.
18,628$614.7k0%no data

Company Information

Virginia National Bankshares Corporation's employee growth, exchange listings and data sources


Key Information

  • Name: Virginia National Bankshares Corporation
  • Ticker: VABK
  • Exchange: NasdaqCM
  • Founded: 1998
  • Industry: Regional Banks
  • Sector: Banks
  • Implied Market Cap: US$175.767m
  • Shares outstanding: 5.33m
  • Website: https://www.vnb.com

Number of Employees


Location

  • Virginia National Bankshares Corporation
  • 404 People Place
  • Charlottesville
  • Virginia
  • 22911
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VABKNasdaqCM (Nasdaq Capital Market)YesCommon StockUSUSDNov 1998

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.