Union Bankshares (NASDAQ:UNB) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Union Bankshares (NASDAQ:UNB) to a hold rating in a report published on Saturday morning.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Union Bankshares Trading Up 0.5%

Shares of UNB stock opened at $24.80 on Friday. Union Bankshares has a fifty-two week low of $20.65 and a fifty-two week high of $28.29. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.79 and a current ratio of 0.79. The stock’s fifty day moving average is $24.18 and its two-hundred day moving average is $24.21. The firm has a market capitalization of $114.33 million, a P/E ratio of 9.50 and a beta of 0.28.

Union Bankshares (NASDAQ:UNB) last released its earnings results on Wednesday, July 15th. The bank reported $0.61 earnings per share (EPS) for the quarter. The business had revenue of $11.95 million during the quarter. Union Bankshares had a net margin of 13.50% and a return on equity of 15.20%.

Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 27th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.8%. The ex-dividend date is Monday, July 27th. Union Bankshares’s dividend payout ratio (DPR) is presently 55.17%.

Hedge Funds Weigh In On Union Bankshares

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Union Bankshares by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 87,314 shares of the bank’s stock valued at $2,072,000 after acquiring an additional 1,249 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Union Bankshares by 4.3% in the third 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 period. State Street Corp increased its stake in Union Bankshares by 1.8% during the fourth 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. Jane Street Group LLC acquired a new stake in Union Bankshares during the first quarter worth $401,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Union Bankshares in the fourth quarter valued at $311,000. 14.84% of the stock is currently owned by institutional investors and hedge funds.

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.