Union Bankshares (NASDAQ:UNB) Stock Passes Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Union Bankshares shares fell below their 200-day moving average of $24.18, reaching a low of $23.33 and closing at $23.66 on trading volume of 6,466 shares.
• Analysts maintain a generally neutral outlook: Wall Street Zen upgraded the stock to “Hold,” Weiss Ratings reiterated “Hold,” and MarketBeat reports an average rating of “Hold.”
• The bank reported quarterly EPS of $0.61 on $11.95 million in revenue and declared a quarterly dividend of $0.36, equivalent to a 6.1% annualized yield; institutional investors own 14.84% of the stock.

Union Bankshares, Inc. (NASDAQ:UNB - Get Free Report)'s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.18 and traded as low as $23.33. Union Bankshares shares last traded at $23.66, with a volume of 6,466 shares changing hands.

Wall Street Analyst Weigh In

UNB has been the subject of several analyst reports. Wall Street Zen raised shares of Union Bankshares to a "hold" rating in a research note on Saturday, July 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Union Bankshares in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Union Bankshares has an average rating of "Hold".

Union Bankshares Stock Up 2.7%

The firm has a 50-day moving average price of $24.16 and a two-hundred day moving average price of $24.18. The company has a market capitalization of $109.07 million, a P/E ratio of 9.07 and a beta of 0.30. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.20.

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

Union Bankshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 6th. Investors of record on Monday, July 27th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.1%. The ex-dividend date is Monday, July 27th. Union Bankshares's dividend payout ratio (DPR) is presently 55.17%.

Hedge Funds Weigh In On Union Bankshares

Several institutional investors and hedge funds have recently added to or reduced their stakes in UNB. Kestra Advisory Services LLC bought a new stake in shares of Union Bankshares in the 4th quarter worth approximately $42,000. JPMorgan Chase & Co. increased its holdings in Union Bankshares by 34,520.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank's stock valued at $46,000 after buying an additional 1,726 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Union Bankshares in the 2nd quarter valued at $53,000. Russell Investments Group Ltd. acquired a new position in shares of Union Bankshares in the 3rd quarter valued at $63,000. Finally, New York State Common Retirement Fund bought a new stake in Union Bankshares in the second quarter valued at about $104,000. 14.84% of the stock is currently owned by institutional investors.

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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