Union Bankshares (NASDAQ:UNB) Stock Passes Below Two Hundred Day Moving Average – Here’s What Happened

Union Bankshares, Inc. (NASDAQ:UNB) shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.18 and traded as low as $23.33. Union Bankshares shares last traded at $23.66, with a volume of 6,466 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Union Bankshares in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Union Bankshares to a “hold” rating in a report on Saturday, July 25th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Union Bankshares Trading Up 1.2%

The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50 day moving average is $24.16 and its 200 day moving average is $24.17. The stock has a market cap of $109.72 million, a price-to-earnings ratio of 9.11 and a beta of 0.30.

Union Bankshares (NASDAQ:UNB) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $0.61 earnings per share for the quarter. The company had revenue of $11.95 million for the quarter. Union Bankshares had a return on equity of 15.20% and a net margin of 13.50%.

Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 27th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, July 27th. Union Bankshares’s dividend payout ratio (DPR) is 55.17%.

Hedge Funds Weigh In On Union Bankshares

Several hedge funds have recently added to or reduced their stakes in UNB. Kestra Advisory Services LLC purchased a new stake in shares of Union Bankshares during the 4th quarter worth approximately $42,000. JPMorgan Chase & Co. raised its stake in Union Bankshares by 34,520.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock worth $46,000 after acquiring an additional 1,726 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Union Bankshares in the second quarter valued at $53,000. Russell Investments Group Ltd. purchased a new stake in Union Bankshares in the third quarter valued at $63,000. Finally, New York State Common Retirement Fund acquired a new position in Union Bankshares in the second quarter valued at $104,000. 14.84% of the stock is currently owned by hedge funds and other institutional investors.

About Union Bankshares

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.