Union Bankshares (UBSH) Price Target Raised to $47.00 at Raymond James

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Union Bankshares (NASDAQ:UBSH) had its target price increased by Raymond James from $45.00 to $47.00 in a research report released on Monday morning. The brokerage currently has a strong-buy rating on the financial services provider’s stock.

Several other research analysts have also weighed in on the company. Zacks Investment Research raised Union Bankshares from a sell rating to a hold rating in a research report on Friday, August 10th. ValuEngine lowered Union Bankshares from a buy rating to a hold rating in a research report on Monday, June 11th. BidaskClub lowered Union Bankshares from a hold rating to a sell rating in a research report on Friday, July 13th. Brean Capital reaffirmed a hold rating on shares of Union Bankshares in a research report on Monday, August 6th. Finally, Barclays began coverage on Union Bankshares in a research report on Friday, June 1st. They issued an equal weight rating and a $44.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $44.20.

Shares of Union Bankshares stock opened at $41.73 on Monday. The stock has a market capitalization of $2.69 billion, a P/E ratio of 21.85 and a beta of 1.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.93. Union Bankshares has a 1 year low of $30.45 and a 1 year high of $42.74.

Union Bankshares (NASDAQ:UBSH) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. The firm had revenue of $148.77 million during the quarter, compared to the consensus estimate of $130.36 million. Union Bankshares had a return on equity of 9.47% and a net margin of 18.94%. research analysts forecast that Union Bankshares will post 2.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were given a $0.23 dividend. This is a positive change from Union Bankshares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Thursday, August 2nd. Union Bankshares’s dividend payout ratio is presently 48.17%.

In other news, Director Ronald L. Tillett sold 1,000 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $40.14, for a total transaction of $40,140.00. Following the transaction, the director now owns 27,214 shares of the company’s stock, valued at approximately $1,092,369.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Frederick Blair Wimbush acquired 1,200 shares of the stock in a transaction dated Tuesday, July 24th. The shares were bought at an average cost of $41.65 per share, for a total transaction of $49,980.00. Following the acquisition, the director now owns 1,200 shares in the company, valued at approximately $49,980. The disclosure for this purchase can be found here. Corporate insiders own 1.64% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC increased its holdings in shares of Union Bankshares by 22.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 6,974 shares of the financial services provider’s stock valued at $271,000 after acquiring an additional 1,282 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Union Bankshares by 67.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 1,400 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Union Bankshares by 20.9% during the 2nd quarter. Amalgamated Bank now owns 8,934 shares of the financial services provider’s stock valued at $347,000 after acquiring an additional 1,546 shares during the last quarter. Virginia Retirement Systems ET AL increased its holdings in shares of Union Bankshares by 7.6% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 28,151 shares of the financial services provider’s stock valued at $1,095,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of Union Bankshares by 21.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 12,016 shares of the financial services provider’s stock valued at $467,000 after acquiring an additional 2,100 shares during the last quarter. 68.86% of the stock is currently owned by institutional investors and hedge funds.

About Union Bankshares

Union Bankshares Corporation operates as the bank holding company for Union Bank & Trust that provides banking and related financial services to consumers and businesses. The company operates in two segments, Community Bank and Mortgage. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services.

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Analyst Recommendations for Union Bankshares (NASDAQ:UBSH)

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