Union Bankshares (NASDAQ:UNB) Posts Earnings Results

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

Union Bankshares Trading Up 1.2%

NASDAQ UNB traded up $0.28 during trading hours on Friday, hitting $23.31. The company’s stock had a trading volume of 3,001 shares, compared to its average volume of 11,271. Union Bankshares has a twelve month low of $21.79 and a twelve month high of $37.70. The firm has a market capitalization of $106.08 million, a P/E ratio of 11.43 and a beta of 0.57. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.23. The stock has a fifty day moving average of $24.94 and a 200 day moving average of $27.67.

Union Bankshares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Saturday, October 25th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, October 24th. Union Bankshares’s payout ratio is 70.59%.

Analysts Set New Price Targets

UNB has been the subject of a number of research analyst reports. Wall Street Zen raised 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 note on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in UNB. JPMorgan Chase & Co. increased its holdings in Union Bankshares by 34,520.0% in the second quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock valued at $46,000 after purchasing an additional 1,726 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Union Bankshares in the 2nd quarter valued at about $53,000. New York State Common Retirement Fund bought a new stake in shares of Union Bankshares in the 2nd quarter valued at about $104,000. Bank of America Corp DE raised its position in shares of Union Bankshares by 30.1% in the 2nd quarter. Bank of America Corp DE now owns 5,861 shares of the bank’s stock valued at $156,000 after acquiring an additional 1,355 shares during the period. Finally, Goldman Sachs Group Inc. bought a new position in Union Bankshares during the 1st quarter worth approximately $214,000. 14.84% of the stock is currently owned by institutional investors.

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.