Union Bankshares (NASDAQ:UNB) Releases Quarterly Earnings Results

Union Bankshares (NASDAQ:UNBGet Free Report) announced its earnings results on Wednesday. The bank reported $0.61 earnings per share for the quarter, FiscalAI reports. Union Bankshares had a net margin of 13.13% and a return on equity of 14.94%. The firm had revenue of $11.95 million for the quarter.

Union Bankshares Trading Up 2.0%

NASDAQ:UNB opened at $25.30 on Thursday. The firm has a market capitalization of $116.63 million, a P/E ratio of 10.00 and a beta of 0.28. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.79. Union Bankshares has a one year low of $20.65 and a one year high of $29.49. The company’s 50-day simple moving average is $24.00 and its 200 day simple moving average is $24.14.

Union Bankshares Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, July 27th. Union Bankshares’s dividend payout ratio (DPR) is 56.92%.

Hedge Funds Weigh In On Union Bankshares

Several large investors have recently made changes to their positions in UNB. Vanguard Group Inc. raised its stake in Union Bankshares by 0.3% during the third quarter. Vanguard Group Inc. now owns 185,095 shares of the bank’s stock valued at $4,583,000 after buying an additional 529 shares during the last quarter. State Street Corp raised its position in shares of Union Bankshares by 1.8% in the 4th quarter. State Street Corp now owns 37,275 shares of the bank’s stock worth $885,000 after purchasing an additional 649 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Union Bankshares by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 87,314 shares of the bank’s stock worth $2,072,000 after purchasing an additional 1,249 shares during the last quarter. Bank of America Corp DE boosted its stake in Union Bankshares by 30.1% in the 2nd 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 in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Union Bankshares by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 40,990 shares of the bank’s stock valued at $1,015,000 after purchasing an additional 1,707 shares during the last quarter. 14.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Union Bankshares in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Check Out Our Latest Report on Union Bankshares

Union Bankshares Company Profile

(Get Free Report)

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.

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Earnings History for Union Bankshares (NASDAQ:UNB)

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