David Scott Silverman Acquires 1,000 Shares of Union Bankshares (NASDAQ:UNB) Stock

Union Bankshares, Inc. (NASDAQ:UNB) Director David Scott Silverman acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were purchased at an average cost of $23.76 per share, for a total transaction of $23,760.00. Following the acquisition, the director directly owned 46,864 shares in the company, valued at $1,113,488.64. This represents a 2.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Union Bankshares Stock Performance

UNB opened at $23.60 on Friday. The stock’s 50 day simple moving average is $24.37 and its 200-day simple moving average is $24.08. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.18. The stock has a market cap of $116.82 million, a PE ratio of 9.04 and a beta of 0.30. Union Bankshares, Inc. has a 1 year low of $20.65 and a 1 year high of $26.54.

Union Bankshares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 27th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.1%. The ex-dividend date of this dividend was Monday, July 27th. Union Bankshares’s payout ratio is 55.17%.

Analysts Set New Price Targets

UNB has been the topic of several recent research reports. Wall Street Zen upgraded shares of Union Bankshares to a “hold” rating in a research report on Saturday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Union Bankshares in a research report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Union Bankshares currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Union Bankshares

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Union Bankshares during the 2nd quarter valued at about $1,600,000. Geode Capital Management LLC boosted its position in Union Bankshares by 105.4% in the second quarter. Geode Capital Management LLC now owns 86,310 shares of the bank’s stock valued at $2,298,000 after buying an additional 44,298 shares in the last quarter. Trust Co. of Vermont bought a new stake in Union Bankshares during the second quarter worth about $711,000. Goldman Sachs Group Inc. bought a new stake in Union Bankshares during the fourth quarter worth about $311,000. Finally, Jane Street Group LLC acquired a new stake in shares of Union Bankshares during the first quarter worth approximately $401,000. Institutional investors and hedge funds own 14.84% of the company’s stock.

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.