Union Bankshares (NASDAQ:UNB) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Shares of Union Bankshares, Inc. (NASDAQ:UNB) passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $26.62 and traded as high as $28.86. Union Bankshares shares last traded at $28.65, with a volume of 14,357 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com cut Union Bankshares from a “buy” rating to a “hold” rating in a report on Monday, August 12th.

Union Bankshares Stock Performance

The stock has a market capitalization of $129.50 million, a P/E ratio of 14.69 and a beta of 0.74. The stock’s 50-day simple moving average is $26.62 and its 200 day simple moving average is $24.89. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.80 and a quick ratio of 0.79.

Union Bankshares (NASDAQ:UNB) last issued its quarterly earnings data on Friday, August 9th. The bank reported $0.45 earnings per share (EPS) for the quarter. Union Bankshares had a net margin of 13.63% and a return on equity of 13.53%. The firm had revenue of $12.25 million during the quarter.

Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Stockholders of record on Saturday, October 26th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Friday, October 25th. Union Bankshares’s dividend payout ratio is currently 73.85%.

Hedge Funds Weigh In On Union Bankshares

Several institutional investors and hedge funds have recently modified their holdings of the business. Community Financial Services Group LLC acquired a new stake in Union Bankshares during the third quarter worth approximately $220,000. Cardinal Capital Management raised its stake in Union Bankshares by 15.1% in the third quarter. Cardinal Capital Management now owns 74,413 shares of the bank’s stock valued at $1,930,000 after purchasing an additional 9,784 shares in the last quarter. Renaissance Technologies LLC lifted its position in Union Bankshares by 7.7% during the second quarter. Renaissance Technologies LLC now owns 14,032 shares of the bank’s stock worth $301,000 after purchasing an additional 1,000 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Union Bankshares by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 30,924 shares of the bank’s stock worth $664,000 after buying an additional 2,914 shares in the last quarter. 14.84% of the stock is currently owned by institutional investors and hedge funds.

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.