Union Bankshares (NASDAQ:UNB) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Union Bankshares (NASDAQ:UNB) from a sell rating to a hold rating in a research report sent to investors on Wednesday.

Union Bankshares Price Performance

NASDAQ UNB opened at $27.90 on Wednesday. Union Bankshares has a 12-month low of $21.00 and a 12-month high of $37.70. The firm’s 50 day moving average is $31.39 and its 200-day moving average is $26.82. The company has a market capitalization of $126.25 million, a PE ratio of 14.31 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.22.

Union Bankshares (NASDAQ:UNB) last released its quarterly earnings data on Wednesday, October 16th. The bank reported $0.29 EPS for the quarter. Union Bankshares had a return on equity of 13.14% and a net margin of 11.74%.

Union Bankshares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Saturday, October 26th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.16%. The ex-dividend date of this dividend was Friday, October 25th. Union Bankshares’s payout ratio is 73.85%.

Hedge Funds Weigh In On Union Bankshares

A number of hedge funds have recently bought and sold shares of UNB. Community Financial Services Group LLC bought a new position in Union Bankshares during the 3rd quarter worth $220,000. Renaissance Technologies LLC grew its holdings in shares of Union Bankshares by 7.7% during the 2nd quarter. Renaissance Technologies LLC now owns 14,032 shares of the bank’s stock worth $301,000 after purchasing an additional 1,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Union Bankshares by 10.4% in the second quarter. Dimensional Fund Advisors LP now owns 30,924 shares of the bank’s stock worth $664,000 after purchasing an additional 2,914 shares during the period. Geode Capital Management LLC raised its stake in Union Bankshares by 3.0% in the third quarter. Geode Capital Management LLC now owns 40,503 shares of the bank’s stock valued at $1,050,000 after purchasing an additional 1,188 shares in the last quarter. Finally, Cardinal Capital Management lifted its position in Union Bankshares by 15.1% during the third quarter. Cardinal Capital Management now owns 74,413 shares of the bank’s stock worth $1,930,000 after purchasing an additional 9,784 shares during the period. 14.84% of the stock is owned by institutional investors.

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.