Union Bankshares (NASDAQ:UNB) Downgraded by StockNews.com

StockNews.com lowered shares of Union Bankshares (NASDAQ:UNB) from a buy rating to a hold rating in a research report released on Monday.

Union Bankshares Price Performance

NASDAQ:UNB opened at $24.23 on Monday. The company has a 50-day moving average of $23.05 and a 200-day moving average of $26.35. The company has a market capitalization of $109.52 million, a price-to-earnings ratio of 10.22 and a beta of 0.79. Union Bankshares has a 52 week low of $20.07 and a 52 week high of $32.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 0.80.

Union Bankshares (NASDAQ:UNB) last released its quarterly earnings data on Tuesday, May 14th. The bank reported $0.53 EPS for the quarter. Union Bankshares had a net margin of 13.63% and a return on equity of 16.66%. The company had revenue of $11.58 million during the quarter.

Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Saturday, July 27th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.94%. The ex-dividend date was Friday, July 26th. Union Bankshares’s dividend payout ratio is currently 60.76%.

Hedge Funds Weigh In On Union Bankshares

Several institutional investors have recently added to or reduced their stakes in the company. Cardinal Capital Management increased its position in Union Bankshares by 29.9% in the 1st quarter. Cardinal Capital Management now owns 55,061 shares of the bank’s stock valued at $1,679,000 after acquiring an additional 12,690 shares in the last quarter. Community Financial Services Group LLC acquired a new stake in Union Bankshares in the 1st quarter valued at about $259,000. Dimensional Fund Advisors LP increased its position in Union Bankshares by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 30,924 shares of the bank’s stock valued at $664,000 after acquiring an additional 2,914 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Union Bankshares by 7.7% in the 2nd quarter. Renaissance Technologies LLC now owns 14,032 shares of the bank’s stock valued at $301,000 after acquiring an additional 1,000 shares in the last quarter. 14.84% of the stock is owned by institutional investors.

Union Bankshares Company Profile

Union Bankshares, Inc operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in northern Vermont and New Hampshire. It offers retail depository services, such as personal checking, savings, money market, IRA/SEP/KEOGH, and health savings accounts, as well as certificates of deposit.