Union Bankshares (NASDAQ:UNB) Issues Earnings Results

Union Bankshares (NASDAQ:UNB) issued its earnings results on Thursday. The bank reported $0.60 EPS for the quarter, Zacks reports. Union Bankshares had a net margin of 13.16% and a return on equity of 15.88%.

Union Bankshares Stock Up 0.1%

Union Bankshares stock traded up $0.03 during midday trading on Thursday, reaching $25.06. The company’s stock had a trading volume of 3,394 shares, compared to its average volume of 10,323. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a market capitalization of $114.80 million, a P/E ratio of 10.07 and a beta of 0.41. The stock’s 50-day simple moving average is $23.92 and its 200-day simple moving average is $24.77. Union Bankshares has a 52-week low of $20.65 and a 52-week high of $36.00.

Union Bankshares Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Shareholders of record on Saturday, January 31st will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.7%. The ex-dividend date is Friday, January 30th. Union Bankshares’s payout ratio is 57.60%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UNB. Wall Street Zen raised Union Bankshares to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Union Bankshares in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Union Bankshares presently has an average rating of “Hold”.

Institutional Trading of Union Bankshares

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in Union Bankshares during the 3rd quarter valued at approximately $248,000. Russell Investments Group Ltd. purchased a new position in Union Bankshares in the 3rd quarter worth $63,000. Dimensional Fund Advisors LP lifted its position in Union Bankshares by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 40,990 shares of the bank’s stock worth $1,015,000 after acquiring an additional 1,707 shares during the period. Vanguard Group Inc. grew its stake in Union Bankshares by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,095 shares of the bank’s stock valued at $4,583,000 after purchasing an additional 529 shares during the last quarter. Finally, Bank of America Corp DE raised 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 worth $156,000 after purchasing an additional 1,355 shares during the last quarter. 14.84% of the stock is currently owned by institutional investors and hedge funds.

Union Bankshares Company Profile

Union Bankshares, Inc is a Virginia-based bank holding company and the parent of Union Bank & Trust, offering a comprehensive range of commercial and retail banking services. Through its community banking platform, the company provides deposit accounts, business and consumer lending, treasury and cash management, residential mortgages, and digital banking solutions. It also delivers trust and wealth management services to individuals, corporations, and nonprofits.

The company’s commercial banking team serves small and middle-market businesses with financing for real estate, equipment, working capital, and industrial sectors.