Union Bankshares (NASDAQ:UNB) Issues Earnings Results

Union Bankshares (NASDAQ:UNB) released its quarterly earnings data on Thursday. The bank reported $0.65 EPS for the quarter, FiscalAI reports. Union Bankshares had a return on equity of 14.78% and a net margin of 12.75%.The firm had revenue of $11.60 million for the quarter.

Union Bankshares Trading Down 1.5%

NASDAQ:UNB traded down $0.37 during trading hours on Friday, reaching $24.18. 5,883 shares of the stock were exchanged, compared to its average volume of 5,414. The company has a quick ratio of 0.78, a current ratio of 0.79 and a debt-to-equity ratio of 0.20. The business has a 50-day moving average of $24.09 and a two-hundred day moving average of $23.88. Union Bankshares has a twelve month low of $20.65 and a twelve month high of $36.00. The company has a market capitalization of $111.47 million, a price-to-earnings ratio of 9.95 and a beta of 0.33.

Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Monday, April 27th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Monday, April 27th. Union Bankshares’s dividend payout ratio is 59.26%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Union Bankshares in a report on Friday, March 27th. Wall Street Zen upgraded Union Bankshares to a “hold” rating in a report on Saturday, January 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in UNB. Geode Capital Management LLC lifted its stake in Union Bankshares by 105.4% during the second quarter. Geode Capital Management LLC now owns 86,310 shares of the bank’s stock worth $2,298,000 after purchasing an additional 44,298 shares in the last quarter. TrueMark Investments LLC acquired a new position in Union Bankshares during the third quarter worth $370,000. Goldman Sachs Group Inc. acquired a new position in Union Bankshares during the fourth quarter worth $311,000. Jane Street Group LLC acquired a new position in Union Bankshares during the first quarter worth $401,000. Finally, Cardinal Capital Management lifted its stake in Union Bankshares by 13.8% during the third quarter. Cardinal Capital Management now owns 96,203 shares of the bank’s stock worth $2,382,000 after purchasing an additional 11,692 shares in the last quarter. 14.84% of the stock is currently owned by institutional investors and hedge funds.

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.