Union Bankshares (NASDAQ:UNB) Posts Quarterly Earnings Results

Union Bankshares (NASDAQ:UNB) posted its earnings results on Wednesday. The bank reported $0.61 EPS for the quarter, FiscalAI reports. Union Bankshares had a return on equity of 14.94% and a net margin of 13.13%.The business had revenue of $11.95 million for the quarter.

Union Bankshares Stock Performance

Shares of NASDAQ UNB traded up $0.15 during midday trading on Wednesday, reaching $24.95. 519 shares of the company were exchanged, compared to its average volume of 13,923. The stock has a fifty day simple moving average of $23.99 and a 200 day simple moving average of $24.13. Union Bankshares has a 1 year low of $20.65 and a 1 year high of $29.49. The stock has a market cap of $115.12 million, a P/E ratio of 9.86 and a beta of 0.28. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.20.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Union Bankshares in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Institutional Investors Weigh In On Union Bankshares

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its holdings in Union Bankshares by 105.4% in the 2nd quarter. Geode Capital Management LLC now owns 86,310 shares of the bank’s stock valued at $2,298,000 after purchasing an additional 44,298 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in Union Bankshares in the fourth quarter valued at $311,000. Jane Street Group LLC acquired a new position in shares of Union Bankshares during the 1st quarter worth $401,000. Citadel Advisors LLC acquired a new position in shares of Union Bankshares during the 3rd quarter worth $248,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Union Bankshares in the 2nd quarter valued at about $104,000. 14.84% of the stock is 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.