Union Bankshares (NASDAQ:UNB) Shares Pass Below Two Hundred Day Moving Average - What's Next?

Key Points

• Union Bankshares' share price dropped below its 200-day moving average of $29.55, trading as low as $25.86.
• Despite the drop, Wall Street analysts have recently upgraded Union Bankshares from a "sell" to a "hold" rating.
• The company declared a quarterly dividend of $0.36 per share, representing an annualized yield of 5.5%.

Union Bankshares, Inc. (NASDAQ:UNB - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $29.55 and traded as low as $25.86. Union Bankshares shares last traded at $26.10, with a volume of 5,966 shares traded.

Wall Street Analysts Forecast Growth

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

Union Bankshares Stock Up 0.3%

The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.81. The firm's 50-day moving average is $27.08 and its 200 day moving average is $29.47. The stock has a market cap of $119.07 million, a price-to-earnings ratio of 12.83 and a beta of 0.56.

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

Union Bankshares Dividend Announcement

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

Institutional Investors Weigh In On Union Bankshares

Large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its position 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. Northern Trust Corp increased its position in shares of Union Bankshares by 16.8% in the fourth quarter. Northern Trust Corp now owns 30,880 shares of the bank's stock worth $893,000 after acquiring an additional 4,436 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Union Bankshares by 13.2% in the fourth quarter. Renaissance Technologies LLC now owns 18,708 shares of the bank's stock worth $541,000 after acquiring an additional 2,176 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Union Bankshares by 4.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 35,276 shares of the bank's stock worth $1,020,000 after acquiring an additional 1,474 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Union Bankshares in the fourth quarter worth $269,000. Institutional investors and hedge funds own 14.84% of the company's stock.

About Union Bankshares

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.