Union Bankshares, Inc. (NASDAQ:UNB) Sees Large Drop in Short Interest

by · The Markets Daily

Union Bankshares, Inc. (NASDAQ:UNB – Get Free Report) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 5,700 shares, a drop of 26.0% from the October 15th total of 7,700 shares. Based on an average daily trading volume, of 6,500 shares, the short-interest ratio is presently 0.9 days. Approximately 0.2% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Union Bankshares from a “buy” rating to a “hold” rating in a research note on Monday, August 12th.

Get Our Latest Analysis on Union Bankshares

Union Bankshares Stock Performance

NASDAQ:UNB traded up $0.03 during trading hours on Friday, reaching $30.89. 4,718 shares of the stock were exchanged, compared to its average volume of 5,461. The stock has a market capitalization of $139.62 million, a P/E ratio of 15.84 and a beta of 0.74. Union Bankshares has a 52 week low of $21.00 and a 52 week high of $32.00. The firm has a 50 day simple moving average of $27.37 and a 200-day simple moving average of $25.08. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.25.

Union Bankshares (NASDAQ:UNB – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The bank reported $0.29 EPS for the quarter. Union Bankshares had a net margin of 13.63% and a return on equity of 13.53%.

Union Bankshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Saturday, October 26th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.66%. Union Bankshares’s dividend payout ratio is presently 73.85%.

Hedge Funds Weigh In On Union Bankshares

Several hedge funds have recently modified their holdings of the company. Community Financial Services Group LLC acquired a new stake in shares of Union Bankshares during the 3rd quarter valued at $220,000. Cardinal Capital Management raised its position in shares of 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. Renaissance Technologies LLC lifted its holdings in shares of Union Bankshares by 7.7% during the second 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 during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Union Bankshares by 10.4% during the second quarter. Dimensional Fund Advisors LP now owns 30,924 shares of the bank’s stock valued at $664,000 after buying an additional 2,914 shares in the last quarter. 14.84% of the stock is currently owned by institutional investors and hedge funds.

Union Bankshares Company Profile

(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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