Union Bankshares (NASDAQ:UNB) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Union Bankshares, Inc. (NASDAQ:UNB)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $23.93 and traded as low as $23.38. Union Bankshares shares last traded at $23.54, with a volume of 5,616 shares.

Wall Street Analyst Weigh In

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

Union Bankshares Trading Up 0.2%

The stock has a 50-day moving average of $23.98 and a 200 day moving average of $23.93. The stock has a market cap of $108.52 million, a PE ratio of 9.30 and a beta of 0.30. 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 (NASDAQ:UNB) last announced its quarterly earnings results on Thursday, May 7th. The bank reported $0.65 earnings per share (EPS) for the quarter. Union Bankshares had a return on equity of 14.94% and a net margin of 13.13%.The company had revenue of $25.08 million during the quarter.

Union Bankshares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 7th. Shareholders of record on Monday, April 27th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, April 27th. This represents a $1.44 dividend on an annualized basis and a yield of 6.1%. Union Bankshares’s payout ratio is presently 56.92%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of UNB. Goldman Sachs Group Inc. acquired a new position in Union Bankshares in the first quarter valued at approximately $214,000. Jane Street Group LLC acquired a new position in Union Bankshares in the first quarter valued at approximately $401,000. Geode Capital Management LLC lifted its holdings in Union Bankshares by 105.4% in the second quarter. Geode Capital Management LLC now owns 86,310 shares of the bank’s stock valued at $2,298,000 after acquiring an additional 44,298 shares during the period. JPMorgan Chase & Co. lifted its holdings in Union Bankshares by 34,520.0% in the second quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock valued at $46,000 after acquiring an additional 1,726 shares during the period. Finally, New York State Common Retirement Fund acquired a new position in Union Bankshares in the second quarter valued at approximately $104,000. 14.84% of the stock is owned by institutional investors and hedge funds.

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.