Union Bankshares (NASDAQ:UNB) Shares Cross Below 200 Day Moving Average of $24.03

Union Bankshares, Inc. (NASDAQ:UNB – Get Rating)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.03 and traded as low as $20.55. Union Bankshares shares last traded at $20.55, with a volume of 2,642 shares.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Union Bankshares in a research note on Wednesday, March 15th. They set a “hold” rating on the stock.

Union Bankshares Stock Performance

The company has a 50 day moving average price of $22.51 and a 200-day moving average price of $24.03. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.29. The company has a market cap of $92.68 million, a P/E ratio of 7.04 and a beta of 0.79.

Union Bankshares (NASDAQ:UNB – Get Rating) last issued its quarterly earnings results on Wednesday, April 19th. The bank reported $0.66 earnings per share (EPS) for the quarter. Union Bankshares had a return on equity of 23.83% and a net margin of 23.25%. The company had revenue of $12.10 million for the quarter.

Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 4th. Stockholders of record on Saturday, April 29th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, April 27th. This represents a $1.44 annualized dividend and a dividend yield of 7.01%. Union Bankshares’s payout ratio is 49.32%.

Institutional Investors Weigh In On Union Bankshares

Several hedge funds have recently modified their holdings of UNB. State Street Corp boosted its holdings in shares of Union Bankshares by 13.9% during the 1st quarter. State Street Corp now owns 8,445 shares of the bank’s stock valued at $260,000 after acquiring an additional 1,033 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Union Bankshares by 8.5% during the 2nd quarter. Millennium Management LLC now owns 7,763 shares of the bank’s stock valued at $203,000 after acquiring an additional 610 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Union Bankshares by 617.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,205 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,037 shares in the last quarter. Cardinal Capital Management boosted its holdings in shares of Union Bankshares by 13.9% during the 4th quarter. Cardinal Capital Management now owns 39,070 shares of the bank’s stock valued at $915,000 after acquiring an additional 4,754 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in Union Bankshares by 2.4% during the 4th quarter. LPL Financial LLC now owns 19,154 shares of the bank’s stock worth $460,000 after buying an additional 450 shares during the period. Institutional investors and hedge funds own 11.50% of the company’s stock.

Union Bankshares Company Profile

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Union Bankshares, Inc is a one-bank holding company for Union Bank, which engages in the provision of retail, commercial, municipal banking, and wealth management and trust services. It offers residential real estate loans, construction real estate loans, commercial real estate loans, commercial loans, consumer loans, and municipal loans.