Union Bankshares (NASDAQ:UNB) Announces Quarterly Earnings Results

Union Bankshares (NASDAQ:UNB) issued its quarterly earnings data on Thursday. The bank reported $0.65 EPS for the quarter, FiscalAI reports. The company had revenue of $11.60 million during the quarter. Union Bankshares had a net margin of 12.75% and a return on equity of 14.78%.

Union Bankshares Price Performance

UNB stock traded down $0.43 during midday trading on Thursday, reaching $24.55. The company had a trading volume of 3,269 shares, compared to its average volume of 5,411. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.78. Union Bankshares has a 1 year low of $20.65 and a 1 year high of $36.00. The company has a market capitalization of $113.18 million, a P/E ratio of 10.10 and a beta of 0.33. The firm has a 50-day moving average price of $24.09 and a 200-day moving average price of $23.88.

Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 7th. Shareholders of record on Monday, April 27th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Monday, April 27th. Union Bankshares’s payout ratio is currently 59.26%.

Hedge Funds Weigh In On Union Bankshares

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Union Bankshares by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 185,095 shares of the bank’s stock worth $4,583,000 after acquiring an additional 529 shares during the last quarter. State Street Corp lifted its holdings in shares of Union Bankshares by 1.8% in the 4th quarter. State Street Corp now owns 37,275 shares of the bank’s stock worth $885,000 after acquiring an additional 649 shares during the last quarter. Geode Capital Management LLC lifted its holdings 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 worth $2,072,000 after acquiring an additional 1,249 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Union Bankshares by 30.1% in the 2nd 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Union Bankshares by 4.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 40,990 shares of the bank’s stock worth $1,015,000 after acquiring an additional 1,707 shares during the last quarter. Hedge funds and other institutional investors own 14.84% of the company’s stock.

Wall Street Analyst Weigh In

UNB has been the subject of several recent analyst reports. Wall Street Zen upgraded Union Bankshares to a “hold” rating in a research report on Saturday, January 17th. Weiss Ratings reaffirmed 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 data from MarketBeat.com, the company presently has an average rating of “Hold”.

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.