Union Bankshares (NASDAQ:UNB) Posts Earnings Results
Union Bankshares (NASDAQ:UNB) reported quarterly earnings of $0.75 per share, with revenue of $14.21 million, a net margin of 11.17%, and a return on equity of 13.14%. The stock traded at $23.31, with a market cap of $106.08 million. A quarterly dividend of $0.36 was paid, yielding 6.2%. Analysts have a consensus "Hold" rating on the stock, with recent upgrades from Wall Street Zen. Institutional investors own 14.84% of the company, which provides banking services in northern Vermont and New Hampshire.
Union Bankshares (NASDAQ:UNB - Get Free Report) issued its quarterly earnings data on Friday. The bank reported $0.75 earnings per share for the quarter, Zacks reports. The business had revenue of $14.21 million for the quarter. Union Bankshares had a return on equity of 13.14% and a net margin of 11.17%.
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Union Bankshares Stock Performance
UNB stock traded up $0.28 during midday trading on Friday, hitting $23.31. The stock had a trading volume of 3,001 shares, compared to its average volume of 11,271. The firm has a market capitalization of $106.08 million, a price-to-earnings ratio of 11.43 and a beta of 0.57. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.23. The stock has a 50-day simple moving average of $24.94 and a 200 day simple moving average of $27.67. Union Bankshares has a 52 week low of $21.79 and a 52 week high of $37.70.
Union Bankshares Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 6th. Investors of record on Saturday, October 25th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Friday, October 24th. Union Bankshares's dividend payout ratio is presently 70.59%.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on UNB. Wall Street Zen raised shares of Union Bankshares from a "sell" rating to a "hold" rating in a report on Sunday, August 17th. Weiss Ratings restated a "hold (c)" rating on shares of Union Bankshares in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".
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Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Union Bankshares by 105.4% during the second quarter. Geode Capital Management LLC now owns 86,310 shares of the bank's stock worth $2,298,000 after purchasing an additional 44,298 shares during the period. Jane Street Group LLC acquired a new position in shares of Union Bankshares in the 1st quarter worth approximately $401,000. Goldman Sachs Group Inc. bought a new position in shares of Union Bankshares during the 1st quarter worth approximately $214,000. New York State Common Retirement Fund acquired a new stake in Union Bankshares in the 2nd quarter valued at $104,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Union Bankshares in the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 14.84% of the company's stock.
About Union Bankshares
(Get Free Report)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.
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