BlackRock Inc. bought a new position in shares of Union Bankshares, Inc. (NASDAQ:UNB - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 65,942 shares of the bank's stock, valued at approximately $1,600,000. BlackRock Inc. owned 1.43% of Union Bankshares at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Kestra Advisory Services LLC bought a new position in Union Bankshares during the 4th quarter worth approximately $42,000. JPMorgan Chase & Co. increased its stake 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Union Bankshares in the second quarter valued at approximately $53,000. Russell Investments Group Ltd. acquired a new stake in Union Bankshares in the third quarter worth $63,000. Finally, New York State Common Retirement Fund acquired a new stake in Union Bankshares in the second quarter worth $104,000. 14.84% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently issued reports on UNB. Wall Street Zen raised shares of Union Bankshares to a "hold" rating in a report on Saturday, July 25th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Union Bankshares in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of "Hold".
Check Out Our Latest Report on UNB
Union Bankshares Price Performance
Shares of UNB opened at $23.78 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.79 and a current ratio of 0.80. The stock has a 50 day simple moving average of $24.25 and a 200 day simple moving average of $24.05. Union Bankshares, Inc. has a 52-week low of $20.65 and a 52-week high of $26.54. The firm has a market capitalization of $117.71 million, a PE ratio of 9.11 and a beta of 0.30.
Union Bankshares Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Shareholders of record on Monday, July 27th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, July 27th. This represents a $1.44 dividend on an annualized basis and a yield of 6.1%. Union Bankshares's payout ratio is presently 55.17%.
About Union Bankshares
(
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.
See Also
Want to see what other hedge funds are holding UNB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Union Bankshares, Inc. (NASDAQ:UNB - Free Report).
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