Union Bankshares (NASDAQ:UNB) Stock Passes Below 200-Day Moving Average – What’s Next?

Union Bankshares, Inc. (NASDAQ:UNB)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $23.88 and traded as low as $22.83. Union Bankshares shares last traded at $23.05, with a volume of 6,200 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Union Bankshares in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Union Bankshares Stock Performance

The company has a 50-day moving average of $24.05 and a 200 day moving average of $23.88. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $106.35 million, a PE ratio of 9.11 and a beta of 0.30.

Union Bankshares (NASDAQ:UNB) last posted its earnings results on Thursday, May 7th. The bank reported $0.65 EPS for the quarter. Union Bankshares had a return on equity of 14.94% and a net margin of 13.13%.The business had revenue of $25.08 million during the quarter.

Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 7th. Investors of record on Monday, April 27th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 6.2%. The ex-dividend date was Monday, April 27th. Union Bankshares’s payout ratio is presently 56.92%.

Hedge Funds Weigh In On Union Bankshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UNB. Goldman Sachs Group Inc. purchased a new position in Union Bankshares during the first quarter worth about $214,000. Jane Street Group LLC purchased a new position in shares of Union Bankshares in the 1st quarter worth about $401,000. Geode Capital Management LLC boosted 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 worth $2,298,000 after purchasing an additional 44,298 shares in the last quarter. JPMorgan Chase & Co. boosted 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 worth $46,000 after purchasing an additional 1,726 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of Union Bankshares in the 2nd quarter worth about $104,000. 14.84% of the stock is currently owned by hedge funds and other institutional investors.

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.