In a recent transaction, Linda M. Houston, a director at Virginia National Bankshares (NASDAQ:NKSH) Corp (OTC:VABK), has increased her stake in the company with the purchase of company stock valued at approximately $24,986. The acquisition, which took place on April 25, 2024, involved shares bought at prices ranging from $24.905 to $24.99.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission. According to the filing, Houston acquired 961 shares at $24.99 per share and an additional 39 shares at $24.905 each. Following these purchases, the director now owns a total of 11,779 Virginia National Bankshares Corp common shares.
Virginia National Bankshares Corp, headquartered in Charlottesville, Virginia, operates as a national commercial bank and is known for its community-focused banking services. The company's stock is traded under the ticker symbol VABK.
The recent stock purchases by a member of the company's board are often viewed as a sign of confidence in the bank's future performance and governance. Investors typically keep a close eye on such insider transactions, as they can provide insights into the perspectives of those who are closely involved with the company's operations and strategic direction.
The Form 4 filing provides transparency on the transactions made by company insiders, allowing investors to stay informed about the financial moves of Virginia National Bankshares Corp's directors and executives.
InvestingPro Insights
Following the recent insider transactions by Linda M. Houston, a director at Virginia National Bankshares Corp (OTC:VABK), investors may benefit from additional context provided by InvestingPro data and insights. The company, with a market capitalization of $137.4 million, trades at a P/E ratio of 7.09, according to the last twelve months as of Q1 2024. Despite a challenging revenue environment with a decline of 18.28% over the same period, the bank has maintained a strong operating income margin of 41.25%.
InvestingPro Tips highlight that Virginia National Bankshares Corp has suffered from weak gross profit margins and the stock has fared poorly over the last month with a 1-month price total return of -15.28%. Nevertheless, the company has been profitable over the last twelve months and has upheld its commitment to shareholders by maintaining dividend payments for 12 consecutive years, boasting a substantial dividend yield of 5.18% as of the most recent data.
These financial metrics and InvestingPro Tips suggest a mixed picture for VABK. While the recent insider purchase might signal confidence, the stock's recent performance and pressure on gross profit margins could be cause for investor caution. For a deeper analysis and more InvestingPro Tips on Virginia National Bankshares Corp, consider exploring their dedicated page at https://www.investing.com/pro/VABK. There are 5 additional InvestingPro Tips available, which can provide further insights into the company's financial health and stock performance. For those interested in a comprehensive investment tool, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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