Union Bankshares (NASDAQ:UNB) Stock Price Passes Below Two Hundred Day Moving Average – Here’s What Happened

Union Bankshares, Inc. (NASDAQ:UNB) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $23.87 and traded as low as $23.25. Union Bankshares shares last traded at $23.56, with a volume of 8,067 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Union Bankshares in a report on Friday, March 27th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Union Bankshares currently has a consensus rating of “Hold”.

Union Bankshares Trading Up 0.6%

The firm has a market cap of $108.61 million, a P/E ratio of 9.31 and a beta of 0.33. The company’s 50 day moving average is $24.04 and its two-hundred day moving average is $23.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.79.

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

Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Monday, April 27th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $1.44 annualized dividend and a dividend yield of 6.1%. Union Bankshares’s dividend payout ratio (DPR) is presently 56.92%.

Institutional Investors Weigh In On Union Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Union Bankshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,095 shares of the bank’s stock valued at $4,583,000 after acquiring an additional 529 shares in the last quarter. State Street Corp grew its holdings in Union Bankshares by 1.8% during the fourth quarter. State Street Corp now owns 37,275 shares of the bank’s stock valued at $885,000 after purchasing an additional 649 shares during the period. Geode Capital Management LLC increased its position 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 valued at $2,072,000 after buying an additional 1,249 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Union Bankshares by 30.1% in the second quarter. Bank of America Corp DE now owns 5,861 shares of the bank’s stock worth $156,000 after acquiring an additional 1,355 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Union Bankshares by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 40,990 shares of the bank’s stock worth $1,015,000 after purchasing an additional 1,707 shares in the last quarter. 14.84% of the stock is 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.