Union Bankshares (NASDAQ:UNB) Issues Earnings Results

Union Bankshares (NASDAQ:UNB) issued its quarterly earnings data on Friday. The bank reported $0.75 earnings per share for the quarter, Zacks reports. Union Bankshares had a return on equity of 13.14% and a net margin of 11.17%.The firm had revenue of $14.21 million during the quarter.

Union Bankshares Stock Up 1.2%

UNB stock traded up $0.28 during midday trading on Friday, hitting $23.31. The company’s stock had a trading volume of 3,001 shares, compared to its average volume of 11,271. Union Bankshares has a 52-week low of $21.79 and a 52-week high of $37.70. The firm has a market capitalization of $106.08 million, a P/E ratio of 11.43 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.23. The firm has a 50-day simple moving average of $24.88 and a 200-day simple moving average of $27.62.

Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Saturday, October 25th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.44 annualized dividend and a yield of 6.2%. Union Bankshares’s dividend payout ratio is presently 70.59%.

Institutional Investors Weigh In On Union Bankshares

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position 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 valued at $2,298,000 after purchasing an additional 44,298 shares during the period. Jane Street Group LLC acquired a new position in Union Bankshares during the 1st quarter worth approximately $401,000. Goldman Sachs Group Inc. acquired a new position in shares of Union Bankshares during the 1st quarter worth $214,000. New York State Common Retirement Fund purchased a new position in shares of Union Bankshares during the 2nd quarter worth approximately $104,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Union Bankshares in the second quarter valued at $53,000. Hedge funds and other institutional investors own 14.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on UNB shares. Wall Street Zen raised shares of Union Bankshares from a “sell” rating to a “hold” rating in a research note on Sunday, August 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Union Bankshares in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Union Bankshares Company Profile

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.