Union Bankshares (NASDAQ:UNB) Announces Quarterly Earnings Results

Key Points

• Union Bankshares reported $999.00 EPS for the quarter with a net margin of 12.75% and ROE of 14.78%; shares fell 1.2% to $24.01, leaving the stock with a P/E of 9.88 and a market cap of about $110.7 million.
• The company paid a quarterly dividend of $0.36 (annualized $1.44), implying a ~6.0% yield and a payout ratio of 59.26%.
• Institutional investors including State Street, Goldman Sachs and Citadel have recently taken or increased positions, while analysts maintain a consensus rating of Hold.

Union Bankshares (NASDAQ:UNB - Get Free Report) issued its quarterly earnings results on Wednesday. The bank reported $999.00 EPS for the quarter, Zacks reports. Union Bankshares had a net margin of 12.75% and a return on equity of 14.78%.

Union Bankshares Stock Down 1.2%

NASDAQ:UNB traded down $0.29 on Wednesday, hitting $24.01. 2,040 shares of the company's stock traded hands, compared to its average volume of 9,893. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.20. Union Bankshares has a 1 year low of $20.65 and a 1 year high of $36.00. The firm has a 50-day moving average price of $24.02 and a 200-day moving average price of $23.88. The company has a market cap of $110.69 million, a PE ratio of 9.88 and a beta of 0.36.

Union Bankshares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Saturday, January 31st were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend was Friday, January 30th. Union Bankshares's payout ratio is 59.26%.

Hedge Funds Weigh In On Union Bankshares

Institutional investors and hedge funds have recently bought and sold shares of the business. State Street Corp grew its stake in Union Bankshares by 1.8% during the 4th quarter. State Street Corp now owns 37,275 shares of the bank's stock valued at $885,000 after acquiring an additional 649 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in Union Bankshares during the 4th quarter valued at about $311,000. Citadel Advisors LLC purchased a new position in Union Bankshares during the 3rd quarter valued at about $248,000. Dimensional Fund Advisors LP grew its stake in Union Bankshares by 4.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 40,990 shares of the bank's stock valued at $1,015,000 after acquiring an additional 1,707 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Union Bankshares by 30.1% during 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 in the last quarter. Hedge funds and other institutional investors own 14.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Union Bankshares in a research note on Friday, March 27th. Wall Street Zen raised Union Bankshares to a "hold" rating in a research note on Saturday, January 17th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Union Bankshares Company Profile

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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