Union Bankshares (NASDAQ:UNB) Issues Earnings Results

Union Bankshares (NASDAQ:UNB) issued its quarterly earnings results on Thursday. The bank reported $0.60 earnings per share (EPS) for the quarter, Zacks reports. Union Bankshares had a net margin of 12.75% and a return on equity of 15.18%. The firm had revenue of $13.74 million for the quarter.

Union Bankshares Stock Down 1.5%

NASDAQ UNB opened at $24.84 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.21. The company has a market cap of $113.77 million, a price-to-earnings ratio of 10.22 and a beta of 0.41. The company has a 50 day moving average of $24.01 and a 200-day moving average of $24.75. Union Bankshares has a 1-year low of $20.65 and a 1-year high of $36.00.

Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Saturday, January 31st were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.44 annualized dividend and a dividend yield of 5.8%. Union Bankshares’s dividend payout ratio (DPR) is currently 57.60%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Union Bankshares in a report on Monday, December 29th. Wall Street Zen upgraded Union Bankshares to a “hold” rating in a research note on Saturday, January 17th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Union Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Union Bankshares by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 185,095 shares of the bank’s stock worth $4,583,000 after purchasing an additional 529 shares in the last quarter. Bank of America Corp DE lifted its position 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 period. Dimensional Fund Advisors LP grew its stake in Union Bankshares by 4.3% during the third quarter. Dimensional Fund Advisors LP now owns 40,990 shares of the bank’s stock worth $1,015,000 after buying an additional 1,707 shares in the last quarter. JPMorgan Chase & Co. grew its stake in 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 buying an additional 1,726 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Union Bankshares in the 2nd quarter valued at about $53,000. 14.84% of the stock is 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.