Union Bankshares said on October 18, 2023 that its board of directors declared a regular quarterly dividend of $0.36 per share ($1.44 annualized). Previously, the company paid $0.36 per share.
Shareholders of record as of October 28, 2023 will receive the payment on November 2, 2023.
At the current share price of $25.25 / share, the stock’s dividend yield is 5.70%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.77%, the lowest has been 2.45%, and the highest has been 7.37%. The standard deviation of yields is 1.28 (n=235).
The current dividend yield is 0.73 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.50. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.12%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 49 funds or institutions reporting positions in Union Bankshares. This is a decrease of 4 owner(s) or 7.55% in the last quarter. Average portfolio weight of all funds dedicated to UNB is 0.01%, an increase of 5.70%. Total shares owned by institutions increased in the last three months by 0.87% to 519K shares.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 92K shares representing 2.05% ownership of the company. No change in the last quarter.
Spears Abacus Advisors holds 47K shares representing 1.05% ownership of the company. No change in the last quarter.
Cardinal Capital Management holds 43K shares representing 0.95% ownership of the company. In it’s prior filing, the firm reported owning 41K shares, representing an increase of 4.11%. The firm increased its portfolio allocation in UNB by 2.86% over the last quarter.
VEXMX – Vanguard Extended Market Index Fund Investor Shares holds 41K shares representing 0.91% ownership of the company. In it’s prior filing, the firm reported owning 39K shares, representing an increase of 4.19%. The firm increased its portfolio allocation in UNB by 3.37% over the last quarter.
Geode Capital Management holds 36K shares representing 0.79% ownership of the company. No change in the last quarter.
Union Bankshares Background Information
(This description is provided by the company.)
Union Bank, a wholly-owned subsidiary of Union Bankshares, Inc., has been helping people buy homes and local businesses create jobs in area communities since 1891. Headquartered in Morrisville, VT, Union Bank is a full service bank offering deposit, loan, trust and commercial banking services throughout northern Vermont and northwestern New Hampshire. Union Bank has earned an outstanding reputation for residential lending programs and is an SBA Preferred Lender. Union Bank has received an “Outstanding” rating for its compliance with the Community Reinvestment Act (CRA). An institution in this group has an excellent record of helping to meet the credit needs of its assessment area, particularly in low-and moderate income neighborhoods, in a manner consistent with its resources and capabilities.
Additional reading:
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
