Union Bankshares (NASDAQ:UNB) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

Union Bankshares, Inc. (NASDAQ:UNB)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.85 and traded as low as $23.42. Union Bankshares shares last traded at $23.49, with a volume of 14,324 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a report on Friday, March 27th. One 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 Stock Performance

The firm’s 50-day moving average price is $24.05 and its two-hundred day moving average price is $23.85. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.79 and a current ratio of 0.79. The stock has a market cap of $108.29 million, a price-to-earnings ratio of 9.28 and a beta of 0.33.

Union Bankshares (NASDAQ:UNB) last announced its quarterly earnings results on Thursday, May 7th. The bank reported $0.65 earnings per share for the quarter. The firm had revenue of $11.60 million for the quarter. Union Bankshares had a net margin of 13.13% and a return on equity of 14.94%.

Union Bankshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 7th. Stockholders of record on Monday, April 27th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $1.44 annualized dividend and a dividend yield of 6.1%. Union Bankshares’s payout ratio is presently 56.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC lifted its position in Union Bankshares by 42.5% in the fourth quarter. Barclays PLC now owns 8,542 shares of the bank’s stock valued at $203,000 after buying an additional 2,548 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Union Bankshares in the fourth quarter valued at about $42,000. State Street Corp lifted 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 valued at $885,000 after buying an additional 649 shares during the last quarter. Wells Fargo & Company MN lifted its position in Union Bankshares by 56.4% in the fourth quarter. Wells Fargo & Company MN now owns 4,757 shares of the bank’s stock valued at $113,000 after buying an additional 1,716 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Union Bankshares in the fourth quarter valued at about $311,000. Institutional investors and hedge funds own 14.84% of the company’s stock.

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.