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

Union Bankshares, Inc. (NASDAQ:UNB) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Union Bankshares to a “hold” rating in a report on Saturday, July 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Union Bankshares in a report on Wednesday, June 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold”.

Union Bankshares Stock Performance

The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $121.72 million, a P/E ratio of 9.42 and a beta of 0.30. The company’s 50-day moving average is $24.24 and its two-hundred day moving average is $24.14.

Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 27th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date of this dividend was Monday, July 27th. Union Bankshares’s dividend payout ratio is currently 55.17%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of UNB. JPMorgan Chase & Co. boosted its position in shares of Union Bankshares by 34,520.0% during the 2nd 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 in the last quarter. Kestra Advisory Services LLC purchased a new position in Union Bankshares in the 4th quarter worth about $42,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Union Bankshares in the 2nd quarter worth about $53,000. Russell Investments Group Ltd. acquired a new stake in Union Bankshares during the 3rd quarter worth about $63,000. Finally, New York State Common Retirement Fund purchased a new stake in Union Bankshares during the second quarter valued at about $104,000. Institutional investors own 14.84% of the company’s stock.

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.