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Last $20.46 USD
Change Today -0.04 / -0.20%
Volume 962.0
VYFC On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

valley financial corp (VYFC) Key Developments

Valley Financial Corporation, Annual General Meeting, May 28, 2015

Valley Financial Corporation, Annual General Meeting, May 28, 2015.

Valley Financial Corporation Declares Quarterly Cash Dividend, Payable on June 1, 2015

On April 24, 2015, Valley Financial Corporation announced the declaration of a quarterly cash dividend of $0.04 per share payable on June 1, 2015 to common shareholders of record on May 15, 2015.

Valley Financial Corporation Reports Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Valley Financial Corporation reported consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the period, the company reported total interest income of $7,980,000 against $8,008,000 a year ago. Net interest income was $6,874,000 against $6,910,000 a year ago. Income before income taxes was $2,923,000 against $2,134,000 a year ago. Net income available to common shareholders was $1,926,000 or $0.39 per diluted share against $1,516,000 or $0.31 per diluted share a year ago. Tangible book value per share was $12.76 against $10.86 a year ago. Return on average assets was 0.90% against 0.73% a year ago.

Valley Financial Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Impairment Charge for the Fourth Quarter of 2014

Valley Financial Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income to common shareholders was $1,534,000 or $0.31 per diluted share as compared to $1,243,000 or $0.25 per diluted share during the same period last year, increases of 23% and 24%, respectively. The fourth quarter earnings produced an annualized return on average earning assets of 0.70% and an annualized return on average shareholder's equity of 10.24% as compared to 0.63% and 9.15% respectively for the same quarter of the prior year. Absent the merger related expenses, net income available to common shareholders would have been $1,824,000 and $0.37 per diluted share, increases of 47% and 48%, respectively. The company's ROA and ROE would have been 0.83% and 12.17%, respectively. Total interest income was $8,110,000 compared to $8,007,000 for the same period a year ago. Net interest income was $6,987,000 compared to $6,873,000 for the same period a year ago. Net interest income after provision for loan losses was $7,032,000 compared to $7,071,000 for the same period a year ago. Income before income taxes was $2,139,000 compared to $1,835,000 for the same period a year ago. For the full year, the company reported absent the merger related expenses, net income available to common shareholders would have been $6,889,000 and $1.41 per diluted share, increases of 11% and 12%, respectively, in comparison to 2013. The company's ROA and ROE would have been 0.80% and 12.04%. Total interest income was $32,317,000 compared to $31,351,000 for the same period a year ago. Net interest income was $27,856,000 compared to $27,055,000 for the same period a year ago. Net interest income after provision for loan losses was $26,487,000 compared to $27,520,000 for the same period a year ago. Income before income taxes was $9,284,000 compared to $9,718,000 for the same period a year ago. Net income available to common shareholders of $6,599,000 and $1.35 per diluted share as compared to $6,201,000 and $1.26 during 2013, increases of 6% and 7% respectively. Return on average total assets was 0.77% and return on average shareholder's equity was 11.54% as compared to 0.86% and 11.06%, respectively, for 2013. Tangible book value per common share improved 19% from $10.22 as of December 31, 2013 to $12.21 as of December 31, 2014. For the fourth quarter of 2014, the company reported impairment charges totaling $186,000 on three properties based upon updated appraisals.

Valley Financial Corporation Declares Quarterly Cash Dividend, Payable on March 2, 2015

Valley Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of $0.04 per share, payable on March 2, 2015 to its common shareholders of record on February 13, 2015. If the merger with BNC occurs as anticipated in the third quarter of 2015, this will be the last cash dividend declared to Valley Financial common shareholders.

 

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Industry Analysis

VYFC

Industry Average

Valuation VYFC Industry Range
Price/Earnings 14.4x
Price/Sales 3.1x
Price/Book 1.6x
Price/Cash Flow 14.5x
TEV/Sales NM Not Meaningful
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