Union Bankshares (NASDAQ:UNB) Shares Pass 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 Wednesday . The stock has a 200-day moving average of $23.87 and traded as low as $23.25. Union Bankshares shares last traded at $23.56, with a volume of 8,067 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Union Bankshares in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Union Bankshares presently has an average rating of “Hold”.

Union Bankshares Trading Down 1.7%

The stock has a 50 day simple moving average of $24.05 and a 200-day simple moving average of $23.87. The firm has a market capitalization of $106.49 million, a P/E ratio of 9.28 and a beta of 0.33. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.20.

Union Bankshares (NASDAQ:UNB) last released its earnings results on Thursday, May 7th. The bank reported $0.65 earnings per share (EPS) for the quarter. The company had revenue of $25.08 million during the quarter. Union Bankshares had a net margin of 13.13% and a return on equity of 14.94%.

Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Investors of record on Monday, April 27th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Monday, April 27th. Union Bankshares’s dividend payout ratio is currently 56.92%.

Institutional Investors Weigh In On Union Bankshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in 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 in the last quarter. Goldman Sachs Group Inc. purchased a new stake in Union Bankshares in the 4th quarter worth approximately $311,000. Citadel Advisors LLC purchased a new stake in Union Bankshares in the 3rd quarter worth approximately $248,000. Dimensional Fund Advisors LP increased its holdings in 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 in the last quarter. Finally, Bank of America Corp DE increased its holdings in 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 in the last quarter. 14.84% of the stock is owned by hedge funds and other institutional investors.

About Union Bankshares

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.