Union Bankshares (NASDAQ:UNB) Issues Quarterly Earnings Results

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

Union Bankshares Trading Up 0.1%

Union Bankshares stock traded up $0.03 during midday trading on Thursday, reaching $25.06. 3,394 shares of the stock traded hands, compared to its average volume of 10,323. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The firm has a market cap of $114.80 million, a PE ratio of 10.07 and a beta of 0.41. The company has a 50-day simple moving average of $23.92 and a two-hundred day simple moving average of $24.77. Union Bankshares has a 12-month low of $20.65 and a 12-month high of $36.00.

Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 5th. Investors of record on Saturday, January 31st will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, January 30th. Union Bankshares’s dividend payout ratio (DPR) is 57.60%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new position in Union Bankshares in the 3rd quarter valued at approximately $248,000. Dimensional Fund Advisors LP increased its position in shares of Union Bankshares by 4.3% during the third 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. raised its stake in shares of Union Bankshares by 0.3% in the third quarter. Vanguard Group Inc. now owns 185,095 shares of the bank’s stock valued at $4,583,000 after acquiring an additional 529 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Union Bankshares by 105.4% in the second 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 during the period. Finally, Jane Street Group LLC acquired a new position in Union Bankshares during the 1st quarter worth $401,000. Institutional investors and hedge funds own 14.84% of the company’s stock.

Analysts Set New Price Targets

UNB has been the subject of several recent research reports. Wall Street Zen upgraded Union Bankshares to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

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.