Union Bankshares (NASDAQ:UNB) Stock Price Passes Above 50 Day Moving Average – Time to Sell?

Shares of Union Bankshares, Inc. (NASDAQ:UNB) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $24.15 and traded as high as $24.84. Union Bankshares shares last traded at $24.67, with a volume of 6,294 shares traded.

Wall Street Analysts Forecast Growth

UNB has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Union Bankshares to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Union Bankshares Stock Up 0.5%

The stock has a market capitalization of $114.33 million, a price-to-earnings ratio of 9.50 and a beta of 0.28. The business’s 50-day moving average is $24.18 and its two-hundred day moving average is $24.21. 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 issued its earnings results on Wednesday, July 15th. The bank reported $0.61 earnings per share for the quarter. The business had revenue of $11.95 million for the quarter. Union Bankshares had a return on equity of 15.20% and a net margin of 13.50%.

Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 27th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.8%. The ex-dividend date is Monday, July 27th. Union Bankshares’s dividend payout ratio (DPR) is presently 55.17%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new stake in shares of Union Bankshares during the first quarter valued at about $214,000. Jane Street Group LLC acquired a new position in shares of Union Bankshares in the 1st quarter worth approximately $401,000. Geode Capital Management LLC lifted its holdings in shares of Union Bankshares by 105.4% in the 2nd quarter. Geode Capital Management LLC now owns 86,310 shares of the bank’s stock worth $2,298,000 after acquiring an additional 44,298 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 1,726 shares during the period. Finally, New York State Common Retirement Fund purchased a new position in shares of Union Bankshares during the 2nd quarter worth approximately $104,000. 14.84% of the stock is currently owned by hedge funds and other institutional investors.

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.