Geode Capital Management LLC Raises Position in Union Bankshares, Inc. (NASDAQ:UNB)

Geode Capital Management LLC lifted its stake in shares of Union Bankshares, Inc. (NASDAQ:UNB) by 3.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 40,503 shares of the bank’s stock after acquiring an additional 1,188 shares during the period. Geode Capital Management LLC’s holdings in Union Bankshares were worth $1,050,000 as of its most recent SEC filing.

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

Union Bankshares Stock Down 1.2 %

Shares of Union Bankshares stock opened at $29.46 on Friday. The business has a 50-day moving average price of $31.52 and a 200 day moving average price of $27.28. Union Bankshares, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $37.70. The firm has a market cap of $133.31 million, a P/E ratio of 15.11 and a beta of 0.80. 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 posted its quarterly earnings results on Wednesday, October 16th. The bank reported $0.29 earnings per share (EPS) for the quarter. Union Bankshares had a net margin of 11.74% and a return on equity of 13.14%.

Union Bankshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Saturday, October 26th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend was Friday, October 25th. Union Bankshares’s payout ratio is 73.85%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research note on Wednesday, December 25th.

Union Bankshares Company Profile

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.