Union Bankshares (NASDAQ:UNB) Share Price Crosses Below Two Hundred Day Moving Average - Here's Why

Key Points

• Union Bankshares shares fell below their 200-day moving average of $24.14, reaching an intraday low of $23.67 before last trading at $24.35 on volume of 10,436 shares.
• Analysts maintain a generally neutral outlook, with the company holding a consensus “Hold” rating. The stock has a market capitalization of approximately $120.5 million and a price-to-earnings ratio of 9.33.
• Union Bankshares recently paid a quarterly dividend of $0.36 per share, equivalent to $1.44 annually and a 5.9% yield; institutional investors own 14.84% of the company.

Union Bankshares, Inc. (NASDAQ:UNB - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $24.14 and traded as low as $23.67. Union Bankshares shares last traded at $24.35, with a volume of 10,436 shares trading hands.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Union Bankshares in a research note on Wednesday, June 24th. Wall Street Zen upgraded shares of Union Bankshares to a "hold" rating in a research report on Saturday, July 25th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

Union Bankshares Trading Up 2.8%

The firm has a fifty day simple moving average of $24.21 and a two-hundred day simple moving average of $24.14. The stock has a market cap of $120.53 million, a PE ratio of 9.33 and a beta of 0.30. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.20.

Union Bankshares Announces Dividend

The business also recently announced 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 5.9%. The ex-dividend date of this dividend was Monday, July 27th. Union Bankshares's dividend payout ratio (DPR) is currently 55.17%.

Institutional Investors Weigh In On Union Bankshares

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in Union Bankshares in the 2nd quarter worth approximately $1,600,000. Trust Co. of Vermont purchased a new stake in shares of Union Bankshares during the 2nd quarter valued at $711,000. Barclays PLC lifted its holdings in shares of Union Bankshares by 42.5% during the 4th quarter. Barclays PLC now owns 8,542 shares of the bank's stock worth $203,000 after acquiring an additional 2,548 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Union Bankshares during the 4th quarter worth $42,000. Finally, State Street Corp grew its position in 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 acquiring an additional 649 shares in the last quarter. 14.84% of the stock is currently owned by 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.

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