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Reading: Union Bankshares inventory hits 52-week excessive at $37.34 By Investing.com
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Union Bankshares inventory hits 52-week excessive at .34 By Investing.com
The Tycoon Herald > Business > Union Bankshares inventory hits 52-week excessive at $37.34 By Investing.com
Business

Union Bankshares inventory hits 52-week excessive at $37.34 By Investing.com

Tycoon Herald
By Tycoon Herald 3 Min Read Published December 3, 2024
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Union Bankshares inventory hits 52-week excessive at $37.34 By Investing.com

Union Bankshares Corp. (UNB) inventory reached a 52-week excessive this week, touching $37.34 amid a interval of sturdy efficiency. The corporate has delivered spectacular returns, with shares surging 62.94% over the previous six months and sustaining a wholesome 4% dividend yield. Based on InvestingPro evaluation, the inventory seems overvalued at present ranges, with technical indicators suggesting overbought situations. This milestone displays investor confidence and a powerful monetary exhibiting from the financial institution, which has been capitalizing on strategic development initiatives and a positive banking atmosphere. The 52-week excessive serves as a testomony to Union Bankshares’ resilience and its means to navigate the complicated monetary panorama. The corporate has demonstrated dedication to shareholder returns, having raised its dividend for 11 consecutive years. InvestingPro subscribers can entry 8 extra funding insights about UNB’s monetary well being and development prospects.

In different latest information, Union Bankshares, Inc. reported a lower in third-quarter earnings with internet earnings falling to $1.3 million, or $0.29 per share, from $2.5 million, or $0.56 per share, throughout the identical interval final 12 months. The nine-month earnings additionally noticed a decline, falling to $5.8 million, or $1.27 per share, from $8.2 million, or $1.82 per share within the earlier 12 months. This downturn is primarily attributed to a strategic stability sheet repositioning, which included the sale of $38.8 million in lower-yielding debt securities, resulting in a pre-tax lack of $1.3 million.

Regardless of these challenges, the corporate’s whole belongings elevated by 8.9% to $1.52 billion, pushed by mortgage development. Whole (EPA:) deposits decreased barely to $1.17 billion, and Federal Residence Mortgage Financial institution advances elevated considerably to $230.7 million. The corporate’s fairness capital grew to $72.3 million, and the gathered different complete loss improved to $26.8 million.

Web curiosity earnings for the quarter rose by 3.1% to $9.4 million, and noninterest earnings, excluding the loss on bond sale, elevated to $2.9 million. The Board of Administrators declared a quarterly money dividend of $0.36 per share. These are among the many latest developments for Union Bankshares, Inc.

This text was generated with the assist of AI and reviewed by an editor. For extra data see our T&C.

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