Union Bankshares (NASDAQ:UNB) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

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 $24.16 and traded as low as $22.58. Union Bankshares shares last traded at $22.62, with a volume of 8,287 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research note on Monday, December 29th. Wall Street Zen raised shares of Union Bankshares to a “hold” rating in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Union Bankshares Price Performance

The business has a 50 day simple moving average of $24.29 and a two-hundred day simple moving average of $24.16. The firm has a market capitalization of $103.60 million, a P/E ratio of 9.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

Union Bankshares (NASDAQ:UNB) last issued its quarterly earnings results on Thursday, February 5th. The bank reported $0.60 earnings per share (EPS) for the quarter. Union Bankshares had a return on equity of 15.18% and a net margin of 12.75%.The firm had revenue of $11.47 million during the quarter.

Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Saturday, January 31st were given a dividend of $0.36 per share. The ex-dividend date was Friday, January 30th. This represents a $1.44 annualized dividend and a yield of 6.4%. Union Bankshares’s payout ratio is presently 59.26%.

Hedge Funds Weigh In On Union Bankshares

A number of institutional investors have recently made changes to their positions in UNB. Kestra Advisory Services LLC purchased a new stake in shares of Union Bankshares during the 4th quarter valued at $42,000. JPMorgan Chase & Co. grew its position in Union Bankshares by 34,520.0% in the second quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock worth $46,000 after acquiring an additional 1,726 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Union Bankshares in the second quarter worth $53,000. Russell Investments Group Ltd. bought a new position in Union Bankshares in the third quarter valued at $63,000. Finally, New York State Common Retirement Fund bought a new position in Union Bankshares in the second quarter valued at $104,000. 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.