Director of Virginia National Bankshares (NASDAQ:NKSH) Corp (OTC:VABK), Kevin T. Carter, has recently made a significant investment in the company's stock, purchasing shares valued at a total of $9,900. The transaction, which took place on April 25, 2024, involved Carter acquiring 400 shares at a weighted average price of $24.75.
The price range for these shares was relatively narrow, with purchases made between $24.70 and $24.75. This indicates a consistent market value at the time of the transaction. Following this purchase, Carter now holds a total of 11,760.63 shares in Virginia National Bankshares Corp.
Investors often pay close attention to the buying and selling activities of a company's directors, as these insiders have a deeper understanding of the company's operations and future prospects. The recent purchase by Carter may be seen as a sign of his confidence in the bank's performance and potential for growth.
Virginia National Bankshares Corp, based in Charlottesville, Virginia, operates within the national commercial banks sector and has a strong presence in the state. Transactions like these are essential for investors to note as they provide insight into the sentiment of company insiders regarding their stock's value and outlook.
The acquisition was publicly disclosed in accordance with SEC regulations, which mandate company insiders to report their transactions in company securities. The details of the purchase, including the price range and total value, can be found in the Form 4 filed with the Securities and Exchange Commission.
InvestingPro Insights
In the wake of Director Kevin T. Carter's (NYSE:CRI) recent share purchase in Virginia National Bankshares Corp, InvestingPro data reveals some noteworthy financial metrics. The company's market capitalization stands at $138.26 million, with a Price/Earnings (P/E) ratio of 7.09, suggesting a potentially undervalued stock in comparison to industry peers. Moreover, the P/E ratio has adjusted to 8.23 over the last twelve months as of Q1 2024, indicating a shift in earnings valuation over time.
Despite recent challenges, as indicated by a revenue decline of 18.28% over the last twelve months as of Q1 2024, Virginia National Bankshares has maintained a robust operating income margin of 41.25%, showcasing efficient management and profitability in its operations. Additionally, the company's commitment to shareholder returns is evident, having maintained dividend payments for 12 consecutive years, with a current dividend yield of 5.18%.
InvestingPro Tips also highlight that while the stock has experienced a downturn over the last month with a price total return of -15.28%, and a more significant drop of -25.1% over the last three months, the company has remained profitable over the last twelve months. This contrast between recent stock performance and financial stability may be a key consideration for investors evaluating the company's long-term value.
For investors seeking a more comprehensive analysis, there are additional InvestingPro Tips available on the platform. These could provide greater insights into Virginia National Bankshares' performance dynamics and investment potential. To access these insights and enhance your investment strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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