Union Bankshares (NASDAQ:UNB) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Union Bankshares, Inc. (NASDAQ:UNB) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $24.09 and traded as low as $23.50. Union Bankshares shares last traded at $23.50, with a volume of 4,725 shares.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded Union Bankshares to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Union Bankshares in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Union Bankshares Trading Up 0.9%

The firm has a market capitalization of $117.17 million, a PE ratio of 9.07 and a beta of 0.30. The firm’s 50-day simple moving average is $24.37 and its 200-day simple moving average is $24.08. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.18.

Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 27th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Monday, July 27th. Union Bankshares’s payout ratio is 55.17%.

Institutional Trading of Union Bankshares

Institutional investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in shares of Union Bankshares in the fourth quarter worth $42,000. JPMorgan Chase & Co. boosted its position in Union Bankshares by 34,520.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock valued at $46,000 after buying an additional 1,726 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Union Bankshares during the 2nd quarter valued at $53,000. Russell Investments Group Ltd. bought a new stake in Union Bankshares in the 3rd quarter worth $63,000. Finally, New York State Common Retirement Fund bought a new stake in Union Bankshares in the 2nd quarter worth $104,000. Hedge funds and other 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.