Union Bankshares (NASDAQ:UNB) Share Price Passes Above 50 Day Moving Average - Should You Sell?

Key Points

• Union Bankshares shares moved above their 50-day moving average, trading as high as $24.84 and last changing hands at $24.67, signaling a short-term technical improvement.
• Analyst sentiment remains cautious: Weiss Ratings reaffirmed a “hold”, and MarketBeat data shows the stock’s consensus rating is also Hold.
• The company recently reported Q2 earnings of $0.61 per share on $11.95 million in revenue and announced a quarterly dividend of $0.36 per share, implying a 5.8% annualized yield.

Union Bankshares, Inc. (NASDAQ:UNB - Get Free Report) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $24.15 and traded as high as $24.84. Union Bankshares shares last traded at $24.67, with a volume of 6,294 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Union Bankshares in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Union Bankshares Trading Down 0.6%

The stock has a market cap of $113.83 million, a price-to-earnings ratio of 9.45 and a beta of 0.28. The business's 50 day moving average is $24.15 and its 200 day moving average is $24.21. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.79 and a quick ratio of 0.79.

Union Bankshares (NASDAQ:UNB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $0.61 earnings per share for the quarter. The company had revenue of $11.95 million for the quarter. Union Bankshares had a return on equity of 15.20% and a net margin of 13.50%.

Union Bankshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Stockholders of record on Monday, July 27th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Monday, July 27th. Union Bankshares's dividend payout ratio (DPR) is 55.17%.

Hedge Funds Weigh In On Union Bankshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its stake in Union Bankshares by 1.8% in the fourth quarter. State Street Corp now owns 37,275 shares of the bank's stock valued at $885,000 after purchasing an additional 649 shares during the last quarter. Goldman Sachs Group Inc. purchased a new stake in shares of Union Bankshares during the 4th quarter worth approximately $311,000. Citadel Advisors LLC purchased a new stake in shares of Union Bankshares during the 3rd quarter worth approximately $248,000. Dimensional Fund Advisors LP boosted its holdings in shares of Union Bankshares by 4.3% in the 3rd 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 in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Union Bankshares by 30.1% in the 2nd 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 in the last quarter. 14.84% of the stock is owned by institutional investors and hedge funds.

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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