Union Bankshares (NASDAQ:UNB) Stock Passes Below 200 Day Moving Average - Here's Why

Key Points

• Union Bankshares' stock price recently dropped below its 200-day moving average, reaching a low of $25.91 before closing at $26.00.
• Wall Street analysts upgraded Union Bankshares from a "sell" to a "hold" rating, reflecting a more favorable outlook.
• The company declared a quarterly dividend of $0.36 per share, yielding 5.5%, and had a dividend payout ratio of 70.59%.

Shares of Union Bankshares, Inc. (NASDAQ:UNB - Get Free Report) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $28.93 and traded as low as $25.91. Union Bankshares shares last traded at $26.00, with a volume of 8,822 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Union Bankshares from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th.

Union Bankshares Stock Down 1.2%

The business has a 50-day moving average of $26.65 and a 200-day moving average of $28.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 0.82. The stock has a market capitalization of $118.12 million, a price-to-earnings ratio of 12.73 and a beta of 0.54.

Union Bankshares (NASDAQ:UNB - Get Free Report) last posted its earnings results on Wednesday, July 16th. The bank reported $0.53 EPS for the quarter. The company had revenue of $13.20 million for the quarter. Union Bankshares had a net margin of 11.17% and a return on equity of 13.14%.

Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Saturday, July 26th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.5%. Union Bankshares's dividend payout ratio (DPR) is presently 70.59%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Union Bankshares during the 2nd quarter worth approximately $53,000. New York State Common Retirement Fund purchased a new position in Union Bankshares in the 2nd quarter valued at approximately $104,000. Bank of America Corp DE grew its stake in shares of Union Bankshares by 24.0% in the fourth quarter. Bank of America Corp DE now owns 4,225 shares of the bank's stock worth $122,000 after acquiring an additional 819 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Union Bankshares during the first quarter worth $214,000. 14.84% of the stock is currently owned by institutional investors and hedge funds.

Union Bankshares Company Profile

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.