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

Union Bankshares, Inc. (NASDAQ:UNB) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 59,200 shares, a decline of 28.7% from the September 30th total of 83,000 shares. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is currently 6.8 days. Currently, 1.3% of the company’s shares are short sold. Currently, 1.3% of the company’s shares are short sold. Based on an average daily volume of 8,700 shares, the days-to-cover ratio is currently 6.8 days.

Union Bankshares Stock Down 0.2%

UNB stock traded down $0.05 during trading on Monday, hitting $22.77. 886 shares of the stock traded hands, compared to its average volume of 11,370. Union Bankshares has a 1 year low of $21.79 and a 1 year high of $37.70. The firm’s 50 day moving average is $25.21 and its two-hundred day moving average is $27.86. The stock has a market cap of $103.63 million, a price-to-earnings ratio of 11.16 and a beta of 0.55. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.82 and a quick ratio of 0.81.

Union Bankshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 6th. Investors of record on Saturday, October 25th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Friday, October 24th. Union Bankshares’s dividend payout ratio is 70.59%.

Analyst Ratings Changes

UNB has been the subject of several recent research reports. Wall Street Zen upgraded Union Bankshares from a “sell” rating to a “hold” rating in a research 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 analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of Union Bankshares by 30.1% during the second quarter. Bank of America Corp DE now owns 5,861 shares of the bank’s stock valued at $156,000 after buying an additional 1,355 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Union Bankshares by 34,520.0% during the second quarter. JPMorgan Chase & Co. now owns 1,731 shares of the bank’s stock valued at $46,000 after buying an additional 1,726 shares during the last quarter. Cardinal Capital Management boosted its position in shares of Union Bankshares by 2.1% during the second quarter. Cardinal Capital Management now owns 84,511 shares of the bank’s stock valued at $2,250,000 after buying an additional 1,773 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Union Bankshares during the second quarter valued at $53,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of Union Bankshares during the second quarter valued at $104,000. Hedge funds and other institutional investors own 14.84% of the company’s stock.

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.