Union Bankshares (NASDAQ:UNB) Posts Earnings Results

Union Bankshares (NASDAQ:UNB) released its earnings results on Thursday. The bank reported $0.60 EPS for the quarter, Zacks reports. Union Bankshares had a return on equity of 15.88% and a net margin of 13.16%.

Union Bankshares Stock Up 0.7%

UNB stock opened at $25.21 on Friday. Union Bankshares has a fifty-two week low of $20.65 and a fifty-two week high of $36.00. The stock has a fifty day moving average of $23.97 and a 200-day moving average of $24.77. The company has a market capitalization of $115.46 million, a price-to-earnings ratio of 10.08 and a beta of 0.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Saturday, January 31st were paid a $0.36 dividend. The ex-dividend date was Friday, January 30th. This represents a $1.44 annualized dividend and a dividend yield of 5.7%. Union Bankshares’s payout ratio is presently 57.60%.

Institutional Trading of Union Bankshares

A number of institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in shares of Union Bankshares by 34,520.0% during the second quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock worth $46,000 after acquiring an additional 1,726 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Union Bankshares in the second quarter worth $53,000. Russell Investments Group Ltd. purchased a new stake in Union Bankshares in the third quarter valued at approximately $63,000. New York State Common Retirement Fund purchased a new stake in Union Bankshares during the second quarter valued at about $104,000. Finally, Bank of America Corp DE lifted its stake in Union Bankshares by 30.1% during the second quarter. Bank of America Corp DE now owns 5,861 shares of the bank’s stock worth $156,000 after purchasing an additional 1,355 shares during the last quarter. 14.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Union Bankshares in a research report on Monday, December 29th. Wall Street Zen upgraded Union Bankshares to a “hold” rating in a report on Saturday, January 17th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Union Bankshares presently has an average rating of “Hold”.

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.