Union Bankshares (NASDAQ:UNB) Posts Quarterly Earnings Results

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

Union Bankshares Stock Up 0.1%

NASDAQ:UNB traded up $0.03 during midday trading on Thursday, hitting $25.06. 3,838 shares of the company were exchanged, compared to its average volume of 10,337. Union Bankshares has a fifty-two week low of $20.65 and a fifty-two week high of $36.00. The company has a market capitalization of $114.80 million, a PE ratio of 10.02 and a beta of 0.41. 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 company has a fifty day simple moving average of $23.92 and a 200 day simple moving average of $24.77.

Union Bankshares Dividend Announcement

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

Institutional Trading of Union Bankshares

Several institutional investors and hedge funds have recently made changes to their positions in UNB. JPMorgan Chase & Co. grew its stake in Union Bankshares by 34,520.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock worth $46,000 after buying an additional 1,726 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Union Bankshares during the second quarter worth approximately $53,000. Russell Investments Group Ltd. acquired a new position in shares of Union Bankshares in the 3rd quarter valued at $63,000. New York State Common Retirement Fund purchased a new stake in Union Bankshares in the 2nd quarter valued at $104,000. Finally, Bank of America Corp DE boosted its stake in Union Bankshares by 30.1% during the 2nd quarter. Bank of America Corp DE now owns 5,861 shares of the bank’s stock worth $156,000 after purchasing an additional 1,355 shares during the period. 14.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on UNB shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Union Bankshares in a report on Monday, December 29th. Wall Street Zen upgraded shares of Union Bankshares to a “hold” rating in a research note on Saturday, January 17th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently 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.