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

Union Bankshares, Inc. (NASDAQ:UNB - Get Free Report) saw a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 28,300 shares, an increase of 23.6% from the March 15th total of 22,900 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 8,400 shares, the days-to-cover ratio is currently 3.4 days.

Union Bankshares Stock Performance

Shares of UNB traded down $0.39 during mid-day trading on Friday, hitting $34.99. 4,254 shares of the company's stock were exchanged, compared to its average volume of 7,682. 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 has a 52 week low of $21.00 and a 52 week high of $37.70. The stock's 50-day simple moving average is $30.05 and its 200-day simple moving average is $30.50. The firm has a market cap of $158.80 million, a price-to-earnings ratio of 18.05 and a beta of 0.58.

Union Bankshares (NASDAQ:UNB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 16th. The bank reported $0.55 EPS for the quarter. The firm had revenue of $12.70 million for the quarter. Union Bankshares had a return on equity of 13.09% and a net margin of 11.74%.

Union Bankshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Saturday, April 26th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, April 25th. Union Bankshares's dividend payout ratio (DPR) is presently 73.47%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Union Bankshares from a "hold" rating to a "sell" rating in a research report on Thursday, April 3rd.

Institutional Investors Weigh In On Union Bankshares

A number of large investors have recently bought and sold shares of the company. 683 Capital Management LLC bought a new stake in shares of Union Bankshares during the 4th quarter worth approximately $304,000. Alpine Global Management LLC acquired a new position in Union Bankshares during the fourth quarter valued at approximately $269,000. Cardinal Capital Management lifted its stake in Union Bankshares by 8.7% during the first quarter. Cardinal Capital Management now owns 82,738 shares of the bank's stock worth $2,604,000 after purchasing an additional 6,651 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Union Bankshares by 16.8% in the 4th quarter. Northern Trust Corp now owns 30,880 shares of the bank's stock valued at $893,000 after purchasing an additional 4,436 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Union Bankshares by 13.2% in the 4th quarter. Renaissance Technologies LLC now owns 18,708 shares of the bank's stock valued at $541,000 after purchasing an additional 2,176 shares during the last quarter. 14.84% of the stock is currently owned by institutional investors and hedge funds.

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.