Union Bankshares, Inc. (NASDAQ:UNB) Declares Quarterly Dividend of $0.36

Union Bankshares, Inc. (NASDAQ:UNB) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Saturday, April 27th will be given a dividend of 0.36 per share by the bank on Thursday, May 2nd. This represents a $1.44 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Thursday, April 25th.

Union Bankshares has raised its dividend payment by an average of 4.0% annually over the last three years and has increased its dividend every year for the last 9 years.

Union Bankshares Stock Performance

NASDAQ:UNB opened at $27.07 on Friday. The company has a market cap of $122.36 million, a price-to-earnings ratio of 10.83 and a beta of 0.86. Union Bankshares has a fifty-two week low of $20.07 and a fifty-two week high of $32.00. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a fifty day moving average price of $29.90 and a 200-day moving average price of $28.94.

Union Bankshares (NASDAQ:UNB) last posted its quarterly earnings results on Wednesday, January 17th. The bank reported $0.68 EPS for the quarter. Union Bankshares had a return on equity of 19.09% and a net margin of 16.74%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Union Bankshares in a report on Saturday, April 13th. They issued a “hold” rating on the stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Union Bankshares by 617.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,205 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,037 shares during the last quarter. Bank of America Corp DE grew its position in Union Bankshares by 244.4% in the first quarter. Bank of America Corp DE now owns 3,465 shares of the bank’s stock valued at $77,000 after acquiring an additional 2,459 shares during the last quarter. Money Concepts Capital Corp bought a new position in Union Bankshares in the fourth quarter valued at about $183,000. Millennium Management LLC increased its position in Union Bankshares by 8.5% during the 2nd quarter. Millennium Management LLC now owns 7,763 shares of the bank’s stock worth $203,000 after purchasing an additional 610 shares in the last quarter. Finally, Stifel Financial Corp bought a new position in Union Bankshares in the 4th quarter valued at approximately $241,000. 14.84% of the stock is currently owned by institutional investors and hedge funds.

About Union Bankshares

Union Bankshares, Inc operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in northern Vermont and New Hampshire. It offers retail depository services, such as personal checking, savings, money market, IRA/SEP/KEOGH, and health savings accounts, as well as certificates of deposit.