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Virginia National Bankshares

OTCPK:VABK
Snowflake Description

Flawless balance sheet with questionable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VABK
OTCPK
$96M
Market Cap
  1. Home
  2. US
  3. Banks
Company description

Virginia National Bankshares Corporation operates as the holding company for Virginia National Bank that offers a range of commercial and retail banking services. The last earnings update was 67 days ago. More info.


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VABK Share Price and Events
7 Day Returns
-0.7%
OTCPK:VABK
-0.2%
US Banks
1.1%
US Market
1 Year Returns
-19.2%
OTCPK:VABK
-5.9%
US Banks
4.7%
US Market
VABK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Virginia National Bankshares (VABK) -0.7% -1.2% -3% -19.2% 63.7% 68.6%
US Banks -0.2% 2.8% -0.2% -5.9% 45.5% 46.9%
US Market 1.1% 4.3% 2.9% 4.7% 37.7% 43.6%
1 Year Return vs Industry and Market
  • VABK underperformed the Banks industry which returned -5.9% over the past year.
  • VABK underperformed the Market in United States of America which returned 4.7% over the past year.
Price Volatility
VABK
Industry
5yr Volatility vs Market

VABK Value

 Is Virginia National Bankshares undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Virginia National Bankshares to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Virginia National Bankshares.

OTCPK:VABK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $24.40 * 10.1%
$2.47
Book Value of Equity per Share Median Book Value from the past 5 years. $24.40
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:VABK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.593 (1 + (1- 21%) (4.27%))
0.741
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:VABK using Excess Returns Model Model

The calculations below outline how an intrinsic value for Virginia National Bankshares is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

OTCPK:VABK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (10.1% – 7.5%) * $24.40)
$0.64
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.64 / (7.5% - 2.73%)
$13.35
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $24.40 + $13.35
$37.75
OTCPK:VABK Discount to Share Price
Calculation Result
Value per share (USD) From above. $37.75
Current discount Discount to share price of $35.86
= -1 x ($35.86 - $37.75) / $37.75
5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Virginia National Bankshares is available for.
Intrinsic value
5%
Share price is $35.86 vs Future cash flow value of $37.75
Current Discount Checks
For Virginia National Bankshares to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Virginia National Bankshares's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Virginia National Bankshares's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Virginia National Bankshares's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Virginia National Bankshares's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:VABK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $2.59
OTCPK:VABK Share Price ** OTCPK (2019-07-16) in USD $35.86
United States of America Banks Industry PE Ratio Median Figure of 592 Publicly-Listed Banks Companies 12.77x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 17.98x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Virginia National Bankshares.

OTCPK:VABK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OTCPK:VABK Share Price ÷ EPS (both in USD)

= 35.86 ÷ 2.59

13.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Virginia National Bankshares is overvalued based on earnings compared to the US Banks industry average.
  • Virginia National Bankshares is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Virginia National Bankshares's expected growth come at a high price?
Raw Data
OTCPK:VABK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
6.2%per year
United States of America Banks Industry PEG Ratio Median Figure of 271 Publicly-Listed Banks Companies 1.26x
United States of America Market PEG Ratio Median Figure of 2,125 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Virginia National Bankshares, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Virginia National Bankshares's assets?
Raw Data
OTCPK:VABK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $26.98
OTCPK:VABK Share Price * OTCPK (2019-07-16) in USD $35.86
United States of America Banks Industry PB Ratio Median Figure of 592 Publicly-Listed Banks Companies 1.21x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
OTCPK:VABK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OTCPK:VABK Share Price ÷ Book Value per Share (both in USD)

= 35.86 ÷ 26.98

1.33x

* Primary Listing of Virginia National Bankshares.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Virginia National Bankshares is overvalued based on assets compared to the US Banks industry average.
X
Value checks
We assess Virginia National Bankshares's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Virginia National Bankshares has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VABK Future Performance

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

  • No analysts cover Virginia National Bankshares, future earnings growth has been estimated based on fundamentals.
The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Virginia National Bankshares expected to grow at an attractive rate?
  • Virginia National Bankshares's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Virginia National Bankshares's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Virginia National Bankshares's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
OTCPK:VABK Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:VABK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 6.2%
United States of America Banks Industry Earnings Growth Rate Market Cap Weighted Average 2.7%
United States of America Banks Industry Revenue Growth Rate Market Cap Weighted Average 3.9%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:VABK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:VABK Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 25 10 7
2018-12-31 27 12 8
2018-09-30 28 11 8
2018-06-30 28 10 8
2018-03-31 28 11 8
2017-12-31 27 9 7
2017-09-30 25 7 7
2017-06-30 25 7 7
2017-03-31 24 6 6
2016-12-31 24 5 6
2016-09-30 23 6 5
2016-06-30 23 6 5

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Virginia National Bankshares's earnings are expected to grow by 6.2% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Virginia National Bankshares is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:VABK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Virginia National Bankshares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:VABK Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 2.59
2018-12-31 3.18
2018-09-30 2.98
2018-06-30 2.83
2018-03-31 2.87
2017-12-31 2.48
2017-09-30 2.62
2017-06-30 2.50
2017-03-31 2.35
2016-12-31 2.20
2016-09-30 2.04
2016-06-30 1.81

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Virginia National Bankshares will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Virginia National Bankshares's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Virginia National Bankshares has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VABK Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Virginia National Bankshares's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Virginia National Bankshares's year on year earnings growth rate has been positive over the past 5 years.
  • Virginia National Bankshares's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Virginia National Bankshares's 1-year earnings growth is negative, it can't be compared to the US Banks industry average.
Earnings and Revenue History
Virginia National Bankshares's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Virginia National Bankshares Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:VABK Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 24.99 6.92 12.58
2018-12-31 26.55 8.47 12.17
2018-09-30 28.03 7.94 11.54
2018-06-30 27.73 7.53 11.45
2018-03-31 27.97 7.62 12.55
2017-12-31 26.84 6.55 12.14
2017-09-30 25.47 6.89 10.64
2017-06-30 24.85 6.54 10.60
2017-03-31 24.26 6.13 10.62
2016-12-31 23.65 5.75 10.65
2016-09-30 23.09 5.36 10.79
2016-06-30 22.55 4.80 11.06
2016-03-31 21.83 4.06 11.46
2015-12-31 20.72 3.12 11.86
2015-09-30 20.63 2.59 12.75
2015-06-30 20.06 2.13 12.78
2015-03-31 19.66 1.81 12.76
2014-12-31 19.75 1.90 12.56
2014-09-30 31.80 5.95 18.07
2014-06-30 32.18 6.49 17.74
2014-03-31 32.36 6.86 17.42
2013-12-31 32.14 6.90 17.26
2013-09-30 26.44 6.06 13.77
2013-06-30 27.23 5.92 14.07
2013-03-31 27.27 5.52 14.37
2012-12-31 27.74 5.48 14.68
2012-09-30 20.86 2.74 12.67

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Virginia National Bankshares has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Virginia National Bankshares used its assets more efficiently than the US Banks industry average last year based on Return on Assets.
  • Unable to establish if Virginia National Bankshares improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Virginia National Bankshares's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Virginia National Bankshares has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VABK Health

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

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Virginia National Bankshares's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Virginia National Bankshares Company Filings, last reported 3 months ago.

OTCPK:VABK Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 72.53 0.00 14.60
2018-12-31 70.74 0.03 18.87
2018-09-30 69.12 17.19 8.76
2018-06-30 67.88 48.39 26.57
2018-03-31 66.82 31.48 6.90
2017-12-31 65.11 34.53 18.28
2017-09-30 64.85 37.00 10.30
2017-06-30 63.16 19.94 9.60
2017-03-31 61.03 12.96 55.66
2016-12-31 59.05 19.73 38.50
2016-09-30 59.28 13.54 42.03
2016-06-30 58.06 15.72 25.11
2016-03-31 56.58 18.52 33.64
2015-12-31 56.30 23.19 43.53
2015-09-30 56.40 19.44 17.46
2015-06-30 55.19 16.11 16.53
2015-03-31 61.58 19.51 22.18
2014-12-31 60.63 18.05 54.11
2014-09-30 60.14 14.10 48.42
2014-06-30 59.82 10.76 52.02
2014-03-31 58.91 13.45 76.85
2013-12-31 58.03 16.35 40.07
2013-09-30 53.72 11.70 32.89
2013-06-30 52.98 9.03 42.50
2013-03-31 54.12 2.99 42.33
2012-12-31 53.94 4.00 71.28
2012-09-30 50.38 3.08 36.10
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Virginia National Bankshares has an acceptable proportion of non-loan assets held.
  • Virginia National Bankshares's liabilities are made up of primarily low risk sources of funding.
  • Loans at Virginia National Bankshares are broadly funded by customer deposits.
  • Virginia National Bankshares's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Virginia National Bankshares has a sufficient allowance for bad loans.
  • Virginia National Bankshares has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Virginia National Bankshares's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Virginia National Bankshares has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VABK Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.19%
Current annual income from Virginia National Bankshares dividends.
If you bought $2,000 of Virginia National Bankshares shares you are expected to receive $64 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Virginia National Bankshares's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.42%).
  • Virginia National Bankshares's dividend is below the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:VABK Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
United States of America Banks Industry Average Dividend Yield Market Cap Weighted Average of 479 Stocks 3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:VABK Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-06-14 1.143 3.132
2019-03-27 1.143 3.087
2018-12-14 1.143 3.227
2018-09-24 1.143 2.825
2018-05-18 1.143 2.569
2018-03-22 0.689 1.699
2017-12-19 0.689 1.906
2017-09-27 0.581 1.681
2017-05-17 0.581 1.831
2017-03-23 0.472 1.608
2016-12-16 0.472 1.759
2016-09-30 0.472 2.006
2016-05-18 0.472 2.138
2016-03-18 0.363 1.702
2015-12-21 0.363 1.715
2015-10-01 0.363 1.711
2015-08-14 0.363 1.776
2015-03-20 0.272 1.350
2014-12-18 0.272 1.342
2014-11-13 0.272 1.304
2014-05-22 0.272 1.305
2014-03-21 0.181 0.912
2014-02-19 0.181 0.978
2013-11-13 0.181 1.097
2013-06-25 0.181 1.160

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Virginia National Bankshares has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Virginia National Bankshares only paid a dividend in the past 6 years.
Current Payout to shareholders
What portion of Virginia National Bankshares's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Virginia National Bankshares's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Virginia National Bankshares afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Virginia National Bankshares has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VABK Management

 What is the CEO of Virginia National Bankshares's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Glenn Rust
COMPENSATION $554,391
AGE 63
TENURE AS CEO 6.5 years
CEO Bio

Mr. Glenn W. Rust serves as the Chief Executive Officer and President of Virginia National Bankshares Corporation and VNBTrust. Mr. Rust has been the Chief Executive Officer and President of Virginia National Bank since July 15, 2007 and November 1, 2006 respectively. He joined Virginia National Bank in November, 2006. Mr. Rust served as the Chief Operating Officer and Executive Vice President at Sterling Bancshares Inc. until February 28, 2006 and served as its Consultant since February 28, 2006. From 1996 to 2006, Mr. Rust served as an Executive Vice President of Sterling Bank. He also served as Chief Operations Officer at Sterling Bank from 2002 to 2006, with responsibility for revenue departments such as retail banking and treasury management. Mr. Rust serves on the board of, and provides advice and strategic counsel to, several charitable organizations in the Charlottesville and Washington, D.C. areas. From 1996 to 2002, Mr. Rust served as the Chief Information Officer for the bank. He served as the President of the Bankruptcy Trustee Division of the bank. He served as a Director of VNB Trust, National Association. Mr. Rust has been a Director of Virginia National Bankshares Corporation since 2006. He serves as a Director of Virginia National Bank. He served as a Director of Sterling Bank from 1996 to 2006.

CEO Compensation
  • Glenn's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Glenn's remuneration is about average for companies of similar size in United States of America.
Management Team

Glenn Rust

TITLE
President
COMPENSATION
$554K
AGE
63
TENURE
6.5 yrs

Donna Shewmake

TITLE
Executive VP
COMPENSATION
$287K
AGE
58

Gina Bayes

TITLE
Chief Credit Officer & Executive VP of Virginia National Bank
COMPENSATION
$294K
AGE
58

Tara Harrison

TITLE
CFO & Executive VP
AGE
51
TENURE
2.4 yrs

Leonard Sebesta

TITLE
Executive VP & Chief Information Officer
Board of Directors Tenure

Average tenure and age of the Virginia National Bankshares board of directors in years:

5.1
Average Tenure
65
Average Age
  • The tenure for the Virginia National Bankshares board of directors is about average.
Board of Directors

Bill Dittmar

TITLE
Chairman of the Board
COMPENSATION
$28K
AGE
65

Glenn Rust

TITLE
President
COMPENSATION
$554K
AGE
63
TENURE
13.5 yrs

Steve Blaine

TITLE
Director
COMPENSATION
$28K
AGE
61
TENURE
21.5 yrs

James Holland

TITLE
Director
COMPENSATION
$64K
AGE
78
TENURE
6.1 yrs

Susan Payne

TITLE
Director
COMPENSATION
$28K
AGE
70
TENURE
4.2 yrs

H. Benham

TITLE
Director
COMPENSATION
$28K
AGE
79
TENURE
4.2 yrs

Gregory Wells

TITLE
Director
COMPENSATION
$28K
AGE
62
TENURE
7.5 yrs

Bryan Wright

TITLE
Director
COMPENSATION
$28K
AGE
66
TENURE
4.2 yrs

Linda Houston

TITLE
Director
COMPENSATION
$28K
AGE
61
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Virginia National Bankshares individual insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
10. Jun 19 Buy William Dittmar Individual 10. Jun 19 10. Jun 19 4,515 $36.43 $164,475
05. Jun 19 Buy James Holland Individual 04. Jun 19 04. Jun 19 420 $36.85 $15,478
05. Feb 19 Buy H. Benham Individual 01. Feb 19 01. Feb 19 525 $36.67 $19,200
01. Feb 19 Buy James Holland Individual 31. Jan 19 31. Jan 19 1,267 $35.71 $45,262
18. Jan 19 Buy William Dittmar Individual 23. Aug 18 23. Aug 18 2,031 $43.81 $88,964
X
Management checks
We assess Virginia National Bankshares's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Virginia National Bankshares has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VABK News

Simply Wall St News

VABK Company Info

Description

Virginia National Bankshares Corporation operates as the holding company for Virginia National Bank that offers a range of commercial and retail banking services. The company operates through two segments, the Bank and VNB Wealth. It provides checking accounts, NOW accounts, money market deposit accounts, certificates of deposit, individual retirement accounts, and other depository services. The company also offers short-to-long term commercial, real estate, consumer, and residential mortgage loans. In addition, it provides automated teller machines, Internet banking, treasury, and cash management services, as well as merchant and debit card services; and investment advisory, brokerage, annuity, and insurance products and services. Further, the company offers investment management, wealth advisory, and trust and estate administration services. It serves individuals, businesses, and charitable organizations. As of March 26, 2019, the company operated through four banking offices in Charlottesville and one in Winchester, as well as a loan production office in Harrisonburg. Virginia National Bankshares Corporation was founded in 1998 and is headquartered in Charlottesville, Virginia.

Details
Name: Virginia National Bankshares Corporation
VABK
Exchange: OTCPK
Founded: 1998
$96,396,879
2,688,145
Website: http://www.vnbcorp.com
Address: Virginia National Bankshares Corporation
404 People Place,
Charlottesville,
Virginia, 22911,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OTCPK VABK Common Stock Pink Sheets LLC US USD 13. Nov 1998
Number of employees
Current staff
Staff numbers
86
Virginia National Bankshares employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/16 23:48
End of day share price update: 2019/07/16 00:00
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.