Union Bankshares (NASDAQ:UNB) Issues Earnings Results

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

Union Bankshares Stock Up 1.2%

Shares of NASDAQ:UNB traded up $0.28 on Friday, reaching $23.31. The company had a trading volume of 3,001 shares, compared to its average volume of 11,271. The stock has a market capitalization of $106.08 million, a P/E ratio of 11.43 and a beta of 0.57. The stock has a 50-day moving average price of $24.88 and a 200 day moving average price of $27.62. Union Bankshares has a twelve month low of $21.79 and a twelve month high of $37.70. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.23.

Union Bankshares Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on UNB shares. Wall Street Zen upgraded Union Bankshares from a “sell” rating to a “hold” rating in a report on Sunday, August 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Union Bankshares currently has an average rating of “Hold”.

Institutional Investors Weigh In On Union Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its position in Union Bankshares by 105.4% during the second quarter. Geode Capital Management LLC now owns 86,310 shares of the bank’s stock worth $2,298,000 after purchasing an additional 44,298 shares during the period. Jane Street Group LLC acquired a new stake in shares of Union Bankshares in the first quarter worth $401,000. Goldman Sachs Group Inc. bought a new stake in shares of Union Bankshares during the 1st quarter worth $214,000. New York State Common Retirement Fund acquired a new position in Union Bankshares in the 2nd quarter valued at $104,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Union Bankshares in the 2nd quarter worth $53,000. 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.