David Scott Silverman Acquires 1,000 Shares of Union Bankshares (NASDAQ:UNB) Stock

Key Points

• Director David Scott Silverman bought 1,000 Union Bankshares shares at an average price of $23.76, increasing his ownership by 2.18% to 46,864 shares.
• Union Bankshares shares recently traded at $23.56, with a market capitalization of approximately $116.6 million and a price-to-earnings ratio of 9.03.
• The company pays a quarterly dividend of $0.36, equivalent to $1.44 annually and a 6.1% yield; analysts maintain a consensus “Hold” rating.

Union Bankshares, Inc. (NASDAQ:UNB - Get Free Report) Director David Scott Silverman purchased 1,000 shares of the firm's stock in a transaction dated Wednesday, August 26th. The shares were bought at an average price of $23.76 per share, with a total value of $23,760.00. Following the purchase, the director owned 46,864 shares in the company, valued at $1,113,488.64. The trade was a 2.18% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Union Bankshares Stock Performance

Union Bankshares stock traded up $0.11 during trading on Friday, hitting $23.56. The stock had a trading volume of 999 shares, compared to its average volume of 12,693. Union Bankshares, Inc. has a 1 year low of $20.65 and a 1 year high of $26.54. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. The stock's 50 day moving average is $24.37 and its two-hundred day moving average is $24.08. The stock has a market cap of $116.62 million, a price-to-earnings ratio of 9.03 and a beta of 0.30.

Union Bankshares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Investors of record on Monday, July 27th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date was Monday, July 27th. Union Bankshares's payout ratio is currently 55.17%.

Institutional Trading of Union Bankshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Union Bankshares by 0.3% in 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. State Street Corp increased its holdings in shares of Union Bankshares by 1.8% in the fourth quarter. State Street Corp now owns 37,275 shares of the bank's stock worth $885,000 after purchasing an additional 649 shares during the period. Geode Capital Management LLC raised its position in shares of Union Bankshares by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 87,314 shares of the bank's stock worth $2,072,000 after buying an additional 1,249 shares in the last quarter. Bank of America Corp DE boosted its stake 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 valued at $156,000 after buying an additional 1,355 shares during the period. Finally, Dimensional Fund Advisors LP boosted 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 valued at $1,015,000 after buying an additional 1,707 shares during the period. Institutional investors own 14.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on UNB. Weiss Ratings restated a "hold (c)" rating on shares of Union Bankshares in a research note on Wednesday, June 24th. Wall Street Zen raised shares of Union Bankshares to a "hold" rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Union Bankshares currently has a consensus rating of "Hold".

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.

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