Stock Analysis Report

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Executive Summary

Union Bankshares, Inc. operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking services in northern Vermont and New Hampshire. More Details

Snowflake Analysis

Flawless balance sheet established dividend payer.

Similar Companies

Share Price & News

How has Union Bankshares's share price performed over time and what events caused price changes?

Latest Share Price and Events

Stable Share Price: UNB's share price has been volatile over the past 3 months.

Market Performance

7 Day Return




US Banks


US Market

1 Year Return




US Banks


US Market

Return vs Industry: UNB exceeded the US Banks industry which returned -28.7% over the past year.

Return vs Market: UNB underperformed the US Market which returned 17.8% over the past year.

Shareholder returns

7 Day11.4%3.1%-0.8%
30 Day20.9%11.6%6.8%
90 Day30.9%3.1%8.9%
1 Year-21.1%-24.8%-23.8%-26.5%20.7%18.0%
3 Year-43.6%-48.7%-16.8%-23.7%41.5%32.1%
5 Year10.6%-5.6%20.3%5.4%84.6%63.8%

Price Volatility Vs. Market

How volatile is Union Bankshares's share price compared to the market and industry in the last 5 years?

Simply Wall St News


Is Union Bankshares undervalued compared to its fair value and its price relative to the market?


Price to Earnings (PE) ratio

Share Price vs. Fair Value

Below Fair Value: UNB ($25.14) is trading above our estimate of fair value ($22.8)

Significantly Below Fair Value: UNB is trading above our estimate of fair value.

Price To Earnings Ratio

PE vs Industry: UNB is poor value based on its PE Ratio (10.8x) compared to the US Banks industry average (10.1x).

PE vs Market: UNB is good value based on its PE Ratio (10.8x) compared to the US market (18.9x).

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate UNB's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: UNB is overvalued based on its PB Ratio (1.5x) compared to the US Banks industry average (0.8x).

Next Steps

Future Growth

How is Union Bankshares forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?


Forecasted Banks industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Union Bankshares has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Next Steps

Past Performance

How has Union Bankshares performed over the past 5 years?


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: UNB has a high level of non-cash earnings.

Growing Profit Margin: UNB's current net profit margins (25.6%) are higher than last year (18.4%).

Past Earnings Growth Analysis

Earnings Trend: UNB's earnings have grown by 3.3% per year over the past 5 years.

Accelerating Growth: UNB's earnings growth over the past year (47.4%) exceeds its 5-year average (3.3% per year).

Earnings vs Industry: UNB earnings growth over the past year (47.4%) exceeded the Banks industry -3.2%.

Return on Equity

High ROE: UNB's Return on Equity (13.7%) is considered low.

Next Steps

Financial Health

How is Union Bankshares's financial position? (This company is analysed differently as a bank or financial institution)

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: UNB's Assets to Equity ratio (12.1x) is moderate.

Allowance for Bad Loans: UNB has a sufficient allowance for bad loans (214%).

Low Risk Liabilities: 97% of UNB's liabilities are made up of primarily low risk sources of funding.

Loan Level: UNB has an appropriate level of Loans to Assets ratio (75%).

Low Risk Deposits: UNB's Loans to Deposits ratio (84%) is appropriate.

Level of Bad Loans: UNB has an appropriate level of bad loans (0.5%).

Next Steps


What is Union Bankshares's current dividend yield, its reliability and sustainability?


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: UNB's dividend (5.09%) is higher than the bottom 25% of dividend payers in the US market (1.65%).

High Dividend: UNB's dividend (5.09%) is in the top 25% of dividend payers in the US market (4.67%)

Stability and Growth of Payments

Stable Dividend: UNB's dividends per share have been stable in the past 10 years.

Growing Dividend: UNB's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.4%), UNB's dividend payments are covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.

Next Steps


How experienced are the management team and are they aligned to shareholders interests?


Average management tenure


David Silverman (59 yo)





Mr. David Scott Silverman has been Chief Executive Officer of Union Bankshares, Inc., since May 16, 2012 and also serves as President and Chief Executive Officer of its subsidiary Union Bank. Mr. Silverman ...

CEO Compensation Analysis

Compensation vs Market: David's total compensation ($USD608.75K) is about average for companies of similar size in the US market ($USD589.01K).

Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.

Leadership Team

David Silverman
$ 484.7k
Karyn Hale
VP, Treasurer & CFO6.5yrsUS$271.98k0.045%
$ 51.1k
John Steel
Independent Director & Secretary18.75yrsUS$51.77k0.19%
$ 211.4k
Jeffrey Coslett
Vice Presidentno dataUS$216.14k0.17%
$ 192.5k
Kristy Alfieri
Assistant Secretaryno datano datano data
Patricia Hogan
Senior VP & Senior Risk Officerno datano data0.058%
$ 64.9k


Average Tenure


Average Age

Experienced Management: UNB's management team is seasoned and experienced (8.4 years average tenure).

Board Members

David Silverman
$ 484.7k
John Steel
Independent Director & Secretary18.75yrsUS$51.77k0.19%
$ 211.4k
Steven Bourgeois
Independent Director15.42yrsUS$57.05k0.054%
$ 60.5k
Dawn Bugbee
Independent Director4.42yrsUS$50.18k0.032%
$ 36.2k
John Goodrich
Independent Director6.42yrsUS$51.64k0.034%
$ 37.9k
Cornelius Van Dyke
Independent Chairman1.42yrsUS$56.54k0.062%
$ 69.9k
Timothy Sargent
Independent Vice Chairman1.42yrsUS$48.50k0.052%
$ 58.1k
Joel Bourassa
Independent Director1.42yrsUS$36.33k0.012%
$ 13.8k
Nancy Putnam
Independent Director2.42yrsUS$49.03k0.043%
$ 47.9k


Average Tenure


Average Age

Experienced Board: UNB's board of directors are considered experienced (4.4 years average tenure).


Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Union Bankshares, Inc.'s company bio, employee growth, exchange listings and data sources

Key Information

  • Name: Union Bankshares, Inc.
  • Ticker: UNB
  • Exchange: NasdaqGM
  • Founded: 1891
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$112.499m
  • Shares outstanding: 4.47m
  • Website:

Number of Employees


  • Union Bankshares, Inc.
  • 20 Lower Main Street
  • Morrisville
  • Vermont
  • 5661
  • United States


TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UNBNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDJun 1998


Union Bankshares, Inc. operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking services in northern Vermont and New Hampshire. It offers retail depositor ...

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/22 23:49
End of Day Share Price2020/10/22 00:00
Annual Earnings2019/12/31

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.