Wall Street brokerages forecast that Union Bankshares Corp (NASDAQ:UBSH) will announce earnings of $0.66 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Union Bankshares’ earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.65. Union Bankshares reported earnings per share of $0.49 during the same quarter last year, which suggests a positive year-over-year growth rate of 34.7%. The company is expected to report its next earnings results on Wednesday, October 17th.
On average, analysts expect that Union Bankshares will report full-year earnings of $2.68 per share for the current year, with EPS estimates ranging from $2.49 to $2.80. For the next year, analysts expect that the firm will post earnings of $2.93 per share, with EPS estimates ranging from $2.78 to $3.02. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Union Bankshares.
Union Bankshares (NASDAQ:UBSH) last posted its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $0.82 EPS for the quarter, beating the consensus estimate of $0.62 by $0.20. The business had revenue of $148.77 million during the quarter, compared to analysts’ expectations of $130.36 million. Union Bankshares had a return on equity of 9.47% and a net margin of 18.94%.
Several analysts have recently commented on UBSH shares. ValuEngine raised Union Bankshares from a “hold” rating to a “buy” rating in a report on Friday, May 11th. BidaskClub raised Union Bankshares from a “hold” rating to a “buy” rating in a report on Friday, May 4th. Barclays started coverage on Union Bankshares in a report on Friday, June 1st. They issued an “equal weight” rating and a $44.00 price target for the company. Brean Capital reissued a “hold” rating on shares of Union Bankshares in a report on Thursday, May 3rd. Finally, Zacks Investment Research raised Union Bankshares from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Union Bankshares has a consensus rating of “Hold” and an average target price of $44.20.
In related news, Director Ronald L. Tillett sold 1,000 shares of Union Bankshares stock in a transaction on Monday, August 6th. The stock was sold at an average price of $40.14, for a total transaction of $40,140.00. Following the completion of the transaction, the director now directly owns 27,214 shares of the company’s stock, valued at $1,092,369.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Frederick Blair Wimbush acquired 1,200 shares of Union Bankshares stock in a transaction that occurred on Tuesday, July 24th. The shares were purchased at an average cost of $41.65 per share, with a total value of $49,980.00. Following the completion of the acquisition, the director now owns 1,200 shares of the company’s stock, valued at approximately $49,980. The disclosure for this purchase can be found here. Insiders own 1.64% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Bank of Montreal Can raised its holdings in shares of Union Bankshares by 1,092.6% in the second quarter. Bank of Montreal Can now owns 2,731 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 2,502 shares during the last quarter. Strs Ohio acquired a new position in shares of Union Bankshares in the second quarter worth $116,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Union Bankshares by 67.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,490 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 1,400 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Union Bankshares in the first quarter worth $166,000. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Union Bankshares by 367.4% in the second quarter. CIBC Private Wealth Group LLC now owns 4,987 shares of the financial services provider’s stock worth $194,000 after acquiring an additional 3,920 shares during the last quarter. 81.05% of the stock is owned by hedge funds and other institutional investors.
UBSH opened at $42.29 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $2.73 billion, a PE ratio of 21.85 and a beta of 1.18. Union Bankshares has a 12 month low of $30.45 and a 12 month high of $42.74.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Investors of record on Friday, August 3rd were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, August 2nd. This is a boost from Union Bankshares’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.18%. Union Bankshares’s payout ratio is currently 48.17%.
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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