Union Bankshares, Inc. (NASDAQ:UNB) Short Interest Down 88.0% in June

Union Bankshares, Inc. (NASDAQ:UNB) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 10,469 shares, a decrease of 88.0% from the June 15th total of 87,456 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 49,237 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Union Bankshares currently has an average rating of “Hold”.

Union Bankshares Stock Up 1.2%

Shares of Union Bankshares stock traded up $0.30 during trading hours on Friday, hitting $24.85. 4,347 shares of the company’s stock traded hands, compared to its average volume of 14,163. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.20. Union Bankshares has a twelve month low of $20.65 and a twelve month high of $29.49. The stock has a 50 day simple moving average of $24.01 and a 200-day simple moving average of $24.11. The company has a market cap of $114.56 million, a PE ratio of 9.82 and a beta of 0.28.

Union Bankshares (NASDAQ:UNB) last issued its quarterly earnings data on Thursday, May 7th. The bank reported $0.65 earnings per share for the quarter. Union Bankshares had a return on equity of 14.94% and a net margin of 13.13%.The firm had revenue of $25.08 million during the quarter.

Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Monday, April 27th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.8%. Union Bankshares’s dividend payout ratio (DPR) is presently 56.92%.

Institutional Trading of Union Bankshares

A number of hedge funds and other institutional investors have recently made changes to their positions in UNB. Vanguard Group Inc. raised its position in shares of Union Bankshares by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,095 shares of the bank’s stock worth $4,583,000 after purchasing an additional 529 shares during the period. Geode Capital Management LLC lifted its stake in shares of Union Bankshares by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 87,314 shares of the bank’s stock worth $2,072,000 after acquiring an additional 1,249 shares during the period. Dimensional Fund Advisors LP grew its holdings in 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. State Street Corp grew its position in Union Bankshares by 1.8% in the fourth quarter. State Street Corp now owns 37,275 shares of the bank’s stock worth $885,000 after buying an additional 649 shares during the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in Union Bankshares in the 4th quarter worth about $311,000. Institutional investors own 14.84% of the company’s stock.

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.