Union Bankshares, Inc. (NASDAQ:UNB) Sees Significant Drop in Short Interest

Union Bankshares, Inc. (NASDAQ:UNB) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 59,200 shares, a decline of 28.7% from the September 30th total of 83,000 shares. Approximately 1.3% of the company’s shares are sold short. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is currently 6.8 days. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is currently 6.8 days. Approximately 1.3% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

UNB has been the subject of a number of analyst reports. Wall Street Zen upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Union Bankshares Stock Performance

Shares of UNB stock traded down $0.05 during mid-day trading on Monday, reaching $22.77. The stock had a trading volume of 886 shares, compared to its average volume of 11,370. The business’s fifty day moving average is $25.21 and its 200-day moving average is $27.86. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.23. The firm has a market cap of $103.63 million, a price-to-earnings ratio of 11.16 and a beta of 0.55. Union Bankshares has a 1-year low of $21.79 and a 1-year high of $37.70.

Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 6th. Stockholders of record on Saturday, October 25th will be paid a $0.36 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.3%. Union Bankshares’s dividend payout ratio is presently 70.59%.

Institutional Trading of Union Bankshares

A number of hedge funds have recently modified their holdings of UNB. JPMorgan Chase & Co. boosted its stake in shares of Union Bankshares by 34,520.0% in the second quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock worth $46,000 after buying an additional 1,726 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Union Bankshares in the second quarter valued at $53,000. New York State Common Retirement Fund acquired a new stake in shares of Union Bankshares in the second quarter valued at $104,000. Bank of America Corp DE grew its stake in shares of Union Bankshares by 30.1% in the second quarter. Bank of America Corp DE now owns 5,861 shares of the bank’s stock valued at $156,000 after buying an additional 1,355 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Union Bankshares in the first quarter valued at $214,000. Hedge funds and other institutional investors own 14.84% of the company’s stock.

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.