Insider Buying: Union Bankshares (NASDAQ:UNB) Director Purchases $23,760.00 in Stock

Union Bankshares, Inc. (NASDAQ:UNB) Director David Scott Silverman bought 1,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were purchased at an average cost of $23.76 per share, with a total value of $23,760.00. Following the purchase, the director directly owned 46,864 shares of the company’s stock, valued at $1,113,488.64. The trade was a 2.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Union Bankshares Price Performance

UNB stock opened at $23.60 on Monday. The firm has a market cap of $116.82 million, a price-to-earnings ratio of 9.04 and a beta of 0.30. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.18. Union Bankshares, Inc. has a 12-month low of $20.65 and a 12-month high of $26.54. The company’s fifty day simple moving average is $24.37 and its 200 day simple moving average is $24.08.

Union Bankshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 6th. Stockholders of record on Monday, July 27th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Monday, July 27th. Union Bankshares’s payout ratio is currently 55.17%.

Institutional Investors Weigh In On Union Bankshares

Several hedge funds and other institutional investors have recently bought and sold shares of UNB. Hsbc Holdings PLC acquired a new position in shares of Union Bankshares during the second quarter valued at about $252,000. BlackRock Inc. bought a new position in shares of Union Bankshares during the 2nd quarter worth about $1,600,000. Trust Co. of Vermont acquired a new stake in shares of Union Bankshares in the 2nd quarter valued at about $711,000. Barclays PLC grew its stake in shares of Union Bankshares by 42.5% in the 4th quarter. Barclays PLC now owns 8,542 shares of the bank’s stock valued at $203,000 after buying an additional 2,548 shares during the period. Finally, Kestra Advisory Services LLC bought a new stake in Union Bankshares in the 4th quarter valued at about $42,000. 14.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on UNB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Union Bankshares in a research note on Wednesday, June 24th. Wall Street Zen raised Union Bankshares to a “hold” rating in a research note on Saturday, July 25th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

About Union Bankshares

Union Bankshares, Inc is a Virginia-based bank holding company and the parent of Union Bank & Trust, offering a comprehensive range of commercial and retail banking services. Through its community banking platform, the company provides deposit accounts, business and consumer lending, treasury and cash management, residential mortgages, and digital banking solutions. It also delivers trust and wealth management services to individuals, corporations, and nonprofits.

The company’s commercial banking team serves small and middle-market businesses with financing for real estate, equipment, working capital, and industrial sectors.