Union Bankshares (NASDAQ:UNB) Posts Earnings Results

Union Bankshares (NASDAQ:UNB) announced its earnings results on Wednesday. The bank reported $999.00 earnings per share (EPS) for the quarter, Zacks reports. Union Bankshares had a return on equity of 14.78% and a net margin of 12.75%.

Union Bankshares Stock Up 0.5%

Union Bankshares stock opened at $24.04 on Friday. Union Bankshares has a twelve month low of $20.65 and a twelve month high of $36.00. The stock has a 50 day moving average of $23.98 and a two-hundred day moving average of $23.89. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $110.92 million, a price-to-earnings ratio of 9.89 and a beta of 0.36.

Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 7th. Shareholders of record on Monday, April 27th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Monday, April 27th. Union Bankshares’s dividend payout ratio (DPR) is presently 59.26%.

Institutional Trading of Union Bankshares

A number of hedge funds have recently added to or reduced their stakes in UNB. Goldman Sachs Group Inc. acquired a new stake in Union Bankshares during the 1st quarter worth approximately $214,000. Jane Street Group LLC acquired a new stake in shares of Union Bankshares in the 1st quarter valued at approximately $401,000. Geode Capital Management LLC lifted its holdings in shares of Union Bankshares by 105.4% in the 2nd 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 during the period. JPMorgan Chase & Co. lifted its holdings in shares of Union Bankshares by 34,520.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock valued at $46,000 after buying an additional 1,726 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in shares of Union Bankshares in the 2nd quarter valued at approximately $104,000. 14.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on UNB. Weiss Ratings reissued a “hold (c)” rating on shares of Union Bankshares in a research report on Friday, March 27th. Wall Street Zen raised Union Bankshares to a “hold” rating in a research report on Saturday, January 17th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Union Bankshares presently has a consensus 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.